Adams struggles with details of economic policy

GERRY ADAMS’ weakness on economic issues has been exposed again, after the Sinn Féin leader was unable to say how much the party’s proposal for a special tax on high earners would raise.

In 2007, Mr Adams’ poor grasp of economic policy – particularly in a televised debate with other party leaders – was seen as one of the main reasons Sinn Féin performed poorly in that year’s general election.

This weekend, he demonstrated a further example of apparent inattention to policy detail following Sinn Féin’s annual Ard Fheis.

In his speech to the gathering on Saturday night, which was televised live, Mr Adams outlined the party’s proposals to “chart a course beyond this recession”.

To raise additional public finances in a fair way, Mr Adams said Sinn Féin in government would end unfair tax reliefs, introduce a solidarity tax of 1% on all assets worth more than €1m (excluding farm land) and introduce a third rate of tax for those earning more than €100,000 a year.

But in a subsequent interview on RTÉ Radio yesterday, Mr Adams was unable to say how much the third rate of tax would raise.

“I don’t know precisely how much that would bring in,” he admitted.

He also struggled when asked if the solidarity tax on valuable land would be applied to family homes.

Initially, Mr Adams said no, then said it would apply in “some cases”, before confirming that it would apply to family homes if they were worth over €1m.

“Any asset that is over €1m, excluding working farm land, has to be in our view subject to this solidarity tax,” he said.

Mr Adams added that the solidarity tax could raise €3bn, and said Sinn Féin would use the money to help fund a €3.2bn stimulus package for the economy.

Under this package, Sinn Féin would:

* Establish a jobs retention fund for small and medium businesses.

* Set up a youth jobs fund to create 20,000 jobs.

* Use the public sector to “kickstart the economy”.

* Include a social clause in public contracts for the hiring of a set number of apprentices and unemployed.

Mr Adams said Sinn Féin would keep its options open ahead of the next general election.

Although stressing the party had no interest in entering coalition with either Fianna Fáil or Fine Gael, he would not rule out doing so.

“We will talk to everyone, given a mandate,” he said, adding that Sinn Féin had no interest in being in “permanent opposition” either.

Meanwhile, Mr Adams said he did not agree with his brother’s decision to fight extradition to the North.

Liam Adams is wanted there to face allegations of sexually abusing his daughter, but has said he is innocent and that he won’t get a fair trial.

Gerry Adams, who previously called on Liam to hand himself over to the police, said he did not agree with his brother’s decision to fight extradition.

“Of course I don’t agree with any of that,” he said. “(But) I haven’t spoken to him in two years.”

Mr Adams rejected suggestions he should resign as Sinn Féin president because of the way he handled the allegations surrounding his brother.