Sinn Féin is proposing a permanent ten cent reduction in petrol and diesel as well as extending excise cuts for another six months as part of its €13.4 billion alternative budget package.
The 40-page document, entitled 'Putting workers and families first', proposes the Government not proceed with planned carbon tax increases, remove all excise on home heating oil and reduce green diesel by 17 cent for a minimum of six months.
The proposed measures to help reduce fuel costs for households run to €1.5 billion with the expense of cutting 10c off petrol and diesel at the pumps for the next year running to €404 million.
Speaking on RTÉ's Morning Ireland, Sinn Féin's Finance Spokesperson Pearse Doherty said his party wanted to bring fuel back down to an appropriate level but added there were also climate friendly proposals in his party's plan.
As per last year, Sinn Féin is proposing an emergency cost of living package.
This would include an "Everyday Essential Card" - a preloaded card with €500 for one million households most in need to spend on groceries - and the extension of the back-to-school clothing and footwear allowance to every child in the country. The party would also provide €400 in energy credits for householders.
Sinn Féin would also abolish student fees, halt public transport fare increases and introduce a new tier of child benefit to target those most at risk of poverty.
The party has also restated its commitment to abolish the Universal Social Charge (USC) for every worker on the first €40,000 they earn, as well as introducing a cost of disability payment.
The party envisages capping childcare at €10 a day; meaning a family would see childcare costs per child drop from over €800 per month to €200. The Coalition has promised to cap monthly childcare costs at €200 during the lifetime of this Government.
The party's full range of proposals cost €13.4 billion while the Government's proposed Budget package comes in at €8.5bn, made up of €1.5bn in permanent new tax measures and €7bn in additional public spending.
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Minimum wage hike and second home charge
When asked to explain the disparity, Deputy Doherty said his party would distribute tax in a different way and spend more money on capital expenditure. He rejected claims it would be difficult to find workers to complete capital projects.
"There's a 12.5% increase in terms of stamp duty for commercial activity, which is trying to divert our workforce away from commercial and into building homes.
"We have a housing crisis at this point in time and Sinn Féin is unapologetic that we will pull all of the levers, including making the investment possible, but also attracting our workforce to building homes, as opposed to building the commercial activity that we need at this point," Mr Doherty said.
"We are also clamping down in gold-plated pensions. We are also going to make sure that the type of sweetheart deals that were given to developers, a quarter of a billion euro of taxpayers' money to build apartments that are under construction, is going to end. We will get rid of the landlord tax relief, which also is a crazy idea at this point in time", he added.
Sinn Féin would also abolish the local property tax and instead introduce a second home charge.
The party envisages the €600 charge on 'multi residential property ownership' would raise €342 million in revenue next year.
Sinn Féin is also seeking the abolition of the concrete products levy.
The 5% charge was introduced in 2023 to help offset the costs of the defective blocks remediation scheme, which was initially to help repair thousands of homes across Donegal, Mayo, Clare and Limerick but has since been expanded to encompass homes in several more counties.
Mr Doherty said the party would also increase minimum wage by €1.10 to €15.25.
Delaying the unwinding of excise cuts on petrol and diesel for a minimum of six months would cost €678 million.
The party would also double the renters' tax credit and ban rent increases.
