SF unveil Budget plan to close deficit without cuts

Sinn Féin has claimed it could close the deficit, without any cuts to social welfare, VAT increases, household or water charges.

In its pre-budget submission launched today, the party said it could achieve a €3.5bn adjustment, largely through tax increases for very high earners.

Sinn Féin would also take €7bn from the National Pension Reserve Fund to fund a stimulus plan to create 60,000 jobs over three years.

The party's Finance Spokesperson Pearse Doherty said big savings could be made through tax increases, and closing tax avoidance loopholes.

Mr Doherty said: "€3.5bn is made up from the package of tax increases, closure of tax avoidance measures and elimination of wasteful spending, so there is about €1.2bn that we have identified that we would make savings of.

"On top of that, we use the money from the National Pension Reserve Fund, to the tune of €7bn, that will be invested over three yearsto get people back to work."

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