Sinn Féin is proposing a billion euro in new taxes in its alternative budget.

The party says it would scrap the 9% VAT rate on hotel beds, though they would keep it for bars and restaurants.

It also proposes an additional 7% in taxes on incomes of more than €100,000.

Employers would be hit with a 15.75% PRSI rate for high-earning workers, and the party would re-introduce a second home charge and increase the betting tax.

Their proposals would also scrap water charges and the property tax and increase spending on health, education, housing and childcare.

The main points of Sinn Féin’s 2017 Budget are:

* Put an additional €1.25 billion into capital projects to help deliver more than 7,000 new homes, build new schools, repair local roads, provide flood relief works and upgrade water infrastructure.

* Allocate a fund of 111 million to support families by reducing the cost of childcare fees by an average of €96 per week for children between 6 months and 3 years of age.

* Abolish water charges and the property tax, costing €498 million combined.

* Invest an additional €500 million in education to build and repair school buildings, reduce the pupil-teacher ratio at primary level, tackle third-level fees and create 1,000 additional apprenticeship places.

* Invest €267 million in health to provide 500 additional hospital beds, reduce the prescription charge by €1 per prescription, increase ambulance cover and improve mental-health services.

* Support older people by providing an additional €270 million, for a range of financial supports including to increase the state pension by €5.70 a week for more than 190,000 pensioners as well as restoring the full state pension to 65-year-olds who retire from work, i.e. an increase of €45 per week.

* Back rural Ireland by supporting job creation, reversing staffing cuts to small schools, restoring the farm assist payment and investing in rural transport and roads.

* Prioritise investment in disability services, including employing more Speech and Language Therapists and Resource Teachers, increasing respite care services by 20% and increasing disability and carers allowances.

* Our investment programme will help create 23,500 jobs next year and create additional jobs in the local economy.