Adams calls for 'solidarity tax' on assets worth over €1m

Sinn Féin is proposing a solidarity tax of 1% on all assets, except farmland, worth over €1m.

Party President Gerry Adams has outlined the proposal at the Ard Fheis in Dublin tonight.

Mr Adams also said Sinn Féin was proposing a third rate of tax for those earning more than €100,00 a year, and would end hundreds of "unfair" tax relief schemes.

He has also called on people to show leadership by standing up and opposing the policies of the current Government.

"It would be easy for me to stand up here and to rail against the Government – to become Mr. Angry for a half an hour," Mr Adams told the gathered delegates.

"But that is not enough."

"If ever Ireland needed leadership it needs it now. Leaders from throughout our communities. Leaders who will make a stand."

He said that if given a mandate, Sinn Féin would "dismantle the culture of political cronyism and the golden circles".

Mr Adams also accused the Government of squandering the wealth created during the boom years,

"When the Celtic Tiger economy was at its height, and when the surplus of wealth was the greatest in the history of this state, the establishment refused to distribute the wealth in the common good and to secure the future," he said.

"They would not nationalise the wealth. But now they are happy to nationalise the debt."

"The biggest scandal of all is the pouring of billions of taxpayers’ money into a toxic banking system and NAMA," Mr Adams said.

"There is no NAMA for workers.

"And now the banks, which pay their CEOs half a million euro a year, are increasing interest rates for the same taxpayers who are bailing them out. And at the same time they are refusing credit to small or medium businesses. And they are getting away with it."

The Sinn Féin leader also referred to the recent agreement on the devolution of policing and justice powers in the North, saying it was a "hugely important and significant" step.

"Many thought this couldn’t happen," Mr Adams said. "But it did."

"Here is proof, if proof was needed of the importance of negotiations as an area of struggle."

Mr Adams drew applause from the crowd with a reference to former Defence Minister Willie O'Dea, who resigned after making controversial remarks about Sinn Féin councillor Maurice Quinlivan.

"In the end Willie tripped over his own moustache but be assured he would still be in this awful government if Maurice had not made a stand," he said.