New political party of high-profile TDs called 'Social Democrats'

The new political party formed by three high-profile TDs will be called the Social Democrats, it has been revealed.
The party's website went online shortly before the formal 10am announcement this morning.
The party, formed by Stephen Donnelly, Catherine Murphy, and Róisín Shortall, lists its aim as the creation of "a society where every person has the opportunity to achieve their potential."
The party says its "core principles" are progress in a thriving economy, equality in civil liberties, transparent democracy and accountability, and sustainability in economics and environmental issues.
In a more detailed web page outlining policies the party said it was committed to reducing the bankruptcy period to one year (from its current three years) and increasing support to troubled borrowers and mortgage holders.
— Social Democrats (@SocDems) July 15, 2015
The party said it wants to establish an electoral commission, strengthen the Dáil's committee system, and reduce the powers of party whips.
It says it will campaign on the abolishment of the Official Secrets Act, and publish advice given to Ministers by the civil service.
On social issues, the party wants to expand paid parental leave to 12 months and tackle the cost of childcare.
The three founders are among the highest-profile TDs. Stephen Donnelly has a background in economics and business management, and often writes on the issues in that sector.
Catherine Murphy recently made headlines for her use of Dáil privilege to discuss the banking arrangements of businessman Denis O'Brien, which was the subject of a court case at the time.
Róisín Shortall resigned her position in the Labour party, where she served as Minister of State for Primary care, in September 2012.
Speaking at the launch, Catherine Murphy said the party wants to run candidates in as many constituencies as possible.
She said the party wants to put a stop to "the endless merry-go-round of scandal, inquiry, report - but no real lessons learned."