Sinn Féin has launched its alternative budget, entitled 'End The Rip-Off', which includes a €2.5 billion cost of living package.
The 47-page document also includes proposals on making rent more affordable and providing for 500 additional beds in the health service next year.
The plan envisages raising taxes on those who earn more than €140,000 to reduce the USC, end the property tax, and stop increases tax on petrol and diesel.
Launching the plan, party leader Mary Lou McDonald said it's a budget to support workers and family, when prices are "sky high" but the Government pours public money "down the drain."
She said the cost-of-living crisis "is not over" and that's why Sinn Féin includes a €2.5bn provision to assist families in the here and now.
Speaking earlier on RTÉ's Morning Ireland, finance spokesperson Pearse Doherty said reducing the cost of rent, energy, childcare and education would bring inflation down rather than overheat the economy.
He said there are two ways to spend money - giving it to those who do not need it or helping those in poverty.
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"Assisting them to be able to heat their homes and put food on the table is not about overheating the economy, it is the right thing that a government should do," he added.
Mr Doherty said that instead of reducing the amount of tax brought in by the State, Sinn Féin's proposal would increase the amount.
"We're going to raise taxes. People who earn €140,000 and more than that will pay a 3% solidarity tax. That actually reduces inflation, not overheats it," he said.
"It allows us to reduce the USC, scrap the USC, for the first €40,000 that people earn. It allows us to end the property tax, it allows us to make sure that the Government doesn't proceed next week with increasing tax on petrol and diesel. They're the choices that people have to make."
He said there are "many targeted supports" in Sinn Féin's proposal, such as a €300 lump sum for those on social welfare, but there are also universal supports.
Last night, Tánaiste Simon Harris signalled that next week's budget will contain measures to tackle vacancy and dereliction in cities and towns.
The Fine Gael leader indicated to his parliamentary party that greater assistance is needed to bring vacant properties back into use, and make it easier to convert commercial premises into residential.
It seems measures in Budget 2026 will enable more people to apply for grants, while restrictions on applicable buildings and locations will be eased.
Labour to focus on child poverty in alternative budget
Labour will launch its alternative budget with a focus on eradicating child poverty.
The party said it would direct the money earmarked for a hospitality VAT cut to anti-child poverty measures instead.
It estimates this would free up in the order of €700 million, which could fund a new second-tier of child benefit along with an increase of €15 per week to the Child Support Payment.
Labour would extend the Fuel Allowance to all families on the Working Family Payment.
The party is proposing an Energy Income Tax Credit for households with incomes below €80,000 and with BER ratings below B2.
This would provide a payment of €400 to these households.
It would cost €270m and could benefit over 675,000 households.
The party is calling for a subvention for the State-imposed PSO and network changes to reduce bills for business and households at a cost of €250m.
Labour's alternative budget would increase all core weekly social protection rates by €16.
People Before Profit called for a €500 energy credit for all households funded by a levy on data centres.
The party has also proposed a €9 billion wealth tax on multi-millionaires as part of its alternative budget.
In total, People Before Profit is proposing €53 billion in additional spending along with €60 billion in revenue raising measures.
TD Paul Murphy denied that pumping such a large amount of money into the economy would be inflationary.
He also criticised the Government's stance on ruling out more once-off cost-of-living payments.
"It is outrageous that the government is ignoring the cost-of-living crisis despite having unprecedented resources at its disposal. By abolishing the so-called "one-off" cost of living payments that families have relied on for the last three years, the government is implementing austerity in a time of plenty.
"Instead of helping people, the government is planning to gift a €675 million VAT cut to the hospitality industry, including to multinationals like McDonald's that are making huge profits," he said.
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