People Before Profit and Sinn Féin propose wealth and corporate taxes ahead of Budget 2027

People Before Profit tax proposals

People Before Profit launched its alternative budget in Dublin on 2 October 2026, outlining tax proposals aimed at high earners and corporations. The party stated that its wealth redistribution strategy would generate over €53 billion, with TD Richard Boyd Barrett stating that taxing wealth and businesses could raise an additional €45 billion. The party proposed a tax on net wealth above €3 million to raise €9 billion, alongside four new income tax brackets for earnings over €100,000.

The party proposed raising corporation tax to 20% for large firms, a 50% tax on energy company profits, a 10% levy on large grocery and fast-food retail profits, and a 4% levy on pharmaceutical and private health profits. It also proposed abolishing the Universal Social Charge for workers earning €100,000 or less, a €1,000 monthly vacant home tax, and a data centre levy. TD Paul Murphy criticised the multinational tax regime in Ireland.

I don't think there's another party that is willing to say that Ireland is a corporate tax haven, which it is, and we're all expected to believe these tremendous figures of productivity from workers in the multinational sector because profits are being funneled from elsewhere and artificially said to be here, at one point or another this is going to end.

Spending and welfare expansion

The party outlined plans to direct revenue into social welfare, healthcare, and education. Social protection payments would rise to €350 per week at an annual cost of €3.7 billion, increasing State pension rates by between €40.70 and €62 weekly while lowering the pension age from 66 to 65. Jobseeker's Allowance would rise by €96 weekly, Child Benefit would increase by 20% to €168 per month, and a €55 weekly cost-of-disability payment would be introduced.

People Before Profit also proposed a universal €500 electricity credit, an additional €500 credit for disability and carer recipients, abolishing childcare and third-level student contribution fees, funding 1,000 teachers and 3,000 Special Needs Assistants, and purchasing 500 electric buses. Richard Boyd Barrett defended the spending package.

The idea of taxing wealth and big business in order to address the cost of living and housing misery is an idea whose time has come.

Sinn Féin alternative budget

Sinn Féin presented its €13.4 billion alternative budget package on 1 October 2026, ahead of the government budget. The proposal includes a €2.1 billion cost-of-living package containing a €500 essentials card for one million lower-income households and a €400 electricity credit for all households costing €880 million. Finance spokesman Pearse Doherty proposed abolishing the Universal Social Charge on the first €40,000 of income, cutting childcare fees to €10 a day at a cost of €110 million, and creating a €600 second-home charge. Pearse Doherty addressed the universal credit proposal.

This is a crisis point for so many households. We've never had as many households across the State that can't pay their electricity bills, and we're facing into the winter, and it's going to get worse.

Fuel pricing and housing measures

Both parties presented distinct plans for energy and transport pricing. People Before Profit proposed price caps of €1.75 per litre for petrol and diesel alongside €1 per litre for home heating oil, costing €816 million annually. It also called for abolishing all public transit fares and M50 toll charges. Sinn Féin proposed reducing petrol and diesel by 10 cents, cutting green diesel by 17 cents for six months, and removing excise and carbon tax from heating oil using the exchequer surplus. On housing, Sinn Féin proposed banning rent increases and raising the Rent Tax Credit to €2,000, while People Before Profit proposed tripling social housing spending and converting the Land Development Agency into a state construction company.