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Sinn Féin tells investors they can ‘tame’ far-right movement

The memo to investors drawn up following a meeting with Sinn Féin’s Pearse Doherty described the party’s economic approach as more akin to Tony Blair’s ‘New Labour’ than Jeremy Corbyn’s Labor Party.

The document details a conversation between major investors in Davy and Doherty, who said the far-right is a concern but that “so far it has not materialized in any significant way.”

“Sinn Féin believes it plays an important role in dominating this movement by providing an alternative/viable “voice” to those disillusioned with the current government,” the document said.

Davy’s view of Sinn Féin following the meeting with Doherty is that the party “recognises the key strengths of the Irish economy” and the “need to maintain policies to support the key drivers of growth”.

The document said Sinn Féin “advocates maintaining the status quo on excessive corporate tax revenues” and “fully supports” the Government’s decision to invest windfall taxes in a sovereign wealth fund.

Sinn Féin may use some of the funds from record levels of corporate tax revenue to invest in housing and infrastructure, but overall Doherty said he “fully supports” the Coalition’s approach.

The report said that Sinn Féin does not believe that the introduction of a new 3% income tax rate on all profits over €140,000 “would make Ireland less attractive to multinationals in terms of recruiting and retaining talent.” .

Sinn Féin believes multinationals benefit from Ireland’s low corporation tax and should “sufficiently incentivize their employees regardless of income tax levels”.

Doherty told investors that Sinn Féin’s proposal to introduce an additional 1% wealth tax on all assets over €1 million would be reviewed by a group of tax experts if they are in power to “establish their effectiveness and how much it would ultimately contribute to the public purse.

The investor briefing document said Sinn Féin’s policies on housing and banking differ from those of the current government, but noted that the party has removed some of the “more extreme policies” it had for both sectors.

Doherty told investors that a Sinn Féin government would not have challenged the EU’s case against tech giant Apple over €14 billion in taxes.

He said “the train has left the station” regarding the outcome of the case and Sinn Féin will respect the decision of the General Court of the European Union.

The document says Sinn Féin’s “main objective” is to form a left-wing government, but realizes current polling trends mean “this is unrealistic” and is open to a coalition with all political parties. .

When asked if Fine Gael and Fianna Fáil had ruled out forming a government with Sinn Féin, Pearse Doherty referred to Fine Gael and Fianna Fáil having previously refused to enter government together only for the political goals to change when it became necessary. necessary.

There may be a prolonged period of negotiations, but Sinn Féin’s view is that the electorate wants change and that failure to attempt to form a government (by any party) would ultimately be punished if new elections are required.

Sinn Féin has been contacted for comment.