The head of the employers group IBEC, Danny McCoy, has claimed that Sinn Féin's election manifesto could have "grave implications" for Ireland's economy if it were implemented.
Speaking to RTÉ News, Mr McCoy said: "Given the tone - which is going after the investors in this country, particularly the high-paid and skilled cadre, this could have grave implications for our business model."
He said the Sinn Féin manifesto "... seems to be targeting higher taxes to the few, and of course our model is based on attracting investment into this country" and he maintained this already triggering concerns in the business community.
Mr McCoy added: "We need to ensure that we have a very efficient taxation system and that doesn't mean punishing people who are on high earnings because they are part of the critical skill set."
In reply, Sinn Féin said its manifesto was "about giving workers and families a break. It is about creating jobs, growing the economy, and providing the public services and infrastructure that enterprise needs."
The party's finance spokesperson defended Sinn Féin's manifesto, describing it as "fair, sensible, costed and achievable".
Pearse Doherty also said that his party's plans will deliver a surplus of over €3 billion annually.
"We are committed to maintaining the 12.5% Corporation Tax rate and supporting R&D," he said.
He added: "We are going to end the insurance rip-off that has been sending small companies to the wall over the last few years, and we will also ensure that the common duty of care between the individual and business is rebalanced so that businesses do not find themselves defending spurious cases.
"By addressing the housing crisis we will also ensure that the workers needed by companies, locating or expanding their businesses here in Ireland, actually have somewhere to live."
