Social Democrats want more financial details from FF and FG

The Social Democrats are demanding more detailed economic costings on the promises being made by Fine Gael and Fianna Fáil before it makes a decision on entering government formation talks.

The party, which has six TDs, has written to Taoiseach Leo Varadkar and the Finance Minister Paschal Donohoe seeking more information on the economics underpinning the joint framework document agreed by the two bigger parties.

The party, led by Catherine Murphy and Roisin Shortall, met in Leinster House on Friday and it wants to know what level of borrowing would be required to honour the pledges in the agreement.

Gary Gannon, TD for Dublin Central told the Irish Examiner that the party’s position after the meeting was unchanged and that the clarity it is seeking will be needed before any decision on entering government or not can be taken.

It also wants clarity if the agreement takes account of the impact Covid-19 will have on the world economy.

Mr Donohoe has said that he would present updated economic projections to the House in the next few weeks.

The Finance Minister hit back at comments from other political parties that the document includes "licenses to write blank cheques" and "lacks specifics".

He said he has been part of the national effort to get Ireland’’s finances into surplus and said "there is no way we are going to be part of anything that unravels all of that".

He said: "I have been the Minister for Finance for the last number of years in successive governments which have seen a transformation in the quality of our national finances. Those finances are now being tested on the ability to fund Covid-19 measures.

There is no way Leo Varadkar and Fine Gael would put that progress at risk.

Mr Donohoe said the joint document is "not a programme for government" but does include commitments to capital expenditure, Slaintecare and increasing bed capacity, and building more housing. He said the "detail and affordability of it is something that will be the subject of a programme for government".

"The difference between this document and our general election manifesto is in our general election manifesto we were making commitments to additional social welfare, to additional tax reductions. Those are absent in this document because we accept that the reality has changed."