Sinn Féin, Fine Gael and Fianna Fáil have both similarities and key differences in their spending plans - but will any of them be able to afford to keep their promises?
Costing the election manifestos: Making sense of the billions being thrown out by parties to win your vote
There are notable differences in tax. Fine Gael plans to devote more resources to this area, counting tax cuts minus increases. Meanwhile, the Sinn Féin tax plan, while its overall cost is modest enough, involves significant cuts on one side and increases on the other. But the really big difference is in State investment spending, where Sinn Féin promises to allocate significantly more than the other two big parties. This amounts to €10 billion in additional exchequer annual spending. And the party also promises to increase annual State investment by a further €10 billion in financing, mainly aimed at approved housing bodies.
The key point is that by planning to spend more and set aside less, the Sinn Féin plan leaves significantly less room for manoeuvre if the State finances take a turn for the worst. And a big question for all the parties is what their priorities would be if this happens. The Department of Finance estimates that about €15 billion of the annual tax revenue from corporation tax by next year will be “windfall” in nature – in other words not linked to real activity here.
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