The Irish Congress of Trade Unions has said the forthcoming budget must deliver an additional €2 billion investment programme in public services and critical infrastructure including housing and childcare.

It has also called for a 13.75% employer's PRSI rate on income above €100,0000, with those funds ring-fenced to fund improved childcare. 

The move would apply to around 48,000 workers and ICTU calculates it would bring in €150m.

Congress wants to raise an additional €1bn to tackle the housing emergency through what it calls "growth friendly" tax measures.

It would also accelerate the introduction of a Vacant Site levy of up to 6%, and consider increased use of Compulsory Purchase Orders to acquire appropriate properties.

Congress also says that the 9% special VAT rate for the tourism and hospitality sector should be axed.

ICTU General Secretary Patricia King said that the special rate, which has cost the State around €2.1bn in tax revenue foregone, was wrong when the sector still saw high levels of precarious work and low pay.

She also pointed out that employers in the sector had refused to cooperate with legally binding wage-setting mechanisms to improve pay and conditions in the sector.

The ICTU submission makes no provision for tax cuts, but would see targeted tax hikes for the better paid.

It also advocates a "small and recurring" net wealth tax on households with net assets in excess of €1m. It estimates this would raise €300m a year.

It says this would have a negligible impact on economic growth - and would only affect the top 1% of households.

Congress also advocates abolishing the personal tax credit for those earning over €100,000 - which it says would raise an additional €120m.

It also believes that €180m can be raised by reforming capital taxes and reducing tax breaks.