Promises on Economy

Each party's election promisies on the economy


Fianna Fail

• Continue to reduce the national debt, aim to achieve average growth of 4.5 per cent. 
• In five years, to double investment in research and development. 
• Double the number of PhD graduates in science, engineering and technology. 
• Deliver the National Development Plan in full, on time and in budget. 
• Increase state pensions to at least €300 a week in the next five years. 
• Develop a new SSIA-type scheme to improve the personal pensions of workers. 
• Full parity for all women in their pension rights.


Fine Gael/Labour

• No higher taxes.
• Fiscal prudence and economic stability through adherence to EU Growth and Stability pact.
• Increase capital spending to levels set out in National Development Plan 2007-13 and invest 1 per cent of GNP in National Pension Reserve Fund annually.
• 25 per cent cut in red tape for companies.
• Develop a National Skills and Training System to progress 100,000 people by one level under the National Qualifications Framework.



• Rates of corporate and income tax unchanged for the foreseeable future.
• Introduction of refundable tax credits.
• Revise tax residency rules to ensure that those who benefit from Irish society also contribute to Irish society.
• Abolish motor tax on a phased basis, over a five-year period, recouping the value of the revenue foregone through excise duty on fuel, excluding biofuels. 


Sinn Fein

• More support for small businesses.
• Trade Union recognition – make grants to business conditional on acceptance of the right of employees to join and to be represented by a trade union.
• Support for agricultural diversification – funding should be made available to those farmers who wish to diversify their farm business.
• End the use of PPPs
• Restoration of the state's 50 per cent stake on all oil and gas finds.



• Continue debt-reduction policies so that net national debt is eliminated by 2013.
• Maintain 12.5 per cent corporation-tax rate and 20 per cent capital-gains rate.
• Allow Competition Authority to prosecute cases and impose fines on its own initiative.
• Planning process not to inappropriately stifle competition.


Socialist Party

• Socialism, where the natural resources, banks and key sectors of the economy are taken into democratic, working-class ownership and control.
• Provide for the needs of the majority and create a society based on co-operation not competition.
• A trade-union recruitment campaign and action to ensure decent pay and conditions for Irish and migrant workers.
• End “social partnership”.
• An end to overspending of public money.