A €450 energy credit for all households, cuts to Universal Social Charge (USC) and college fees and bringing in €10-per-day childcare are among proposals in Sinn Féin’s alternative Budget 2026 due to be unveiled on Thursday.
With the Government preparing to deliver the budget next Tuesday, Opposition parties have begun outlining the spending and tax measures they would introduce if they were in power.
The Coalition has signalled there will be no electricity credit for households as part of a move away from the temporary cost-of-living packages seen in recent years and a pivot towards permanent measures to help vulnerable households.
The Irish Times understands Sinn Féin will propose the €450 energy credit amid rising energy costs and hundreds of thousands of households in arrears.
The party would extend the reduced VAT on electricity and gas bills until the end of 2026.
Sinn Féin’s proposals include abolishing USC for all workers on the first €40,000 they earn.
It will call for a ban on rent increases for three years, scrap a tax relief available to landlords and increase the rent tax credit.
It would also scrap the €3,000 student contribution fee for third-level education from September 2026, but would begin with a €1,500 cut this year. It would eliminate apprenticeship fees immediately.
What can we potentially look forward to in Budget 2026?
A Sinn Féin source said the measures are “fully costed based on departmental data”.
Elsewhere, the Social Democrats are proposing a €400 targeted energy credit for households with incomes less than €45,000 and to spend €1.15 billion on increases of €15 per week for core welfare payments, including the State pension.
The party’s alternative budget also includes €3.45 billion in revenue-raising measures.
The largest of these – estimated to bring in €805 million – is to begin phasing out income tax credits for people earning more than €100,000 and removing credits for those earning more than €140,000.
Social Democrats leader Holly Cairns said her party’s alternative budget is “focused on driving down the cost-of-living, sustainably for people” and “lifting children out of poverty”.
Separately, the Labour Party and the Greens will also be unveiling alternative budgets on Thursday.
Labour would extend free public transport for all under-18s at a cost of €15 million.
It would also extend the existing TaxSaver commuter ticket scheme to all registered Leap Cards.
At present, the scheme applies to annual and monthly public transport passes, which climate action spokesman Ciarán Ahern has argued “locks many people out”.
He said: “By extending the scheme to registered Leap cards, we can make sure that everyone, not just those who can pay large sums in advance, gets the benefit.”