Sinn Féin's approach to the economy is more 'New Labour’ than ‘Corbyn Labour’, stockbroker Davy has said.
The broker recently hosted a briefing with the party’s finance spokesman, Pearse Doherty, covering topics such as current opinion polls, the next general election, Sinn Féin’s approach to management of the economy, the Budget and the housing and banking sectors.
In a note to investors this evening summarising the meeting, Davy analysts Diarmaid and Colin Sheridan and economist Kevin Timoney said Sinn Féin recognises the key strengths of the Irish economy and the need to maintain policies to support key growth drivers.
The party is not advocating change in corporate tax or foreign direct investment policy, they added.
"On budgetary policy, it also advocates maintaining the status quo on excess corporate tax receipts," they wrote.
While on housing the analysts said the party’s policy points to a greater State role, while also recognising the importance of market participants in delivery of targets.
"In banking, its policies on the retention of AIB and taxation differ notably from the current government," they said.
"Overall, Sinn Féin’s approach from an economic standpoint is more ‘New Labour’ than ‘Corbyn Labour’."
The Davy analysts said Sinn Féin expects to be the leading party after the next general election.
"While its preference would be to form a government without the two large incumbent parties, it is open to talking to all parties," it said.
"This thesis appears somewhat ambitious, and it will be interesting to see if the far-right gains traction as we approach an election."
