Sinn Féin tell investors they can ‘tame’ Far Right movement

The investor memo drafted after a meeting with Sinn Féin’s Pearse Doherty described the party’s economic approach as more like Tony Blair’s ‘New Labour’ than Jeremy Corbyn’s Labor Party.

The document detailed a conversation between senior Davy investors and Mr Doherty who said the Far Right is a concern but “until now it hasn’t materialized in a meaningful manner”.

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

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

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

Sinn Féin may use some of the funding from record levels of corporate tax receipts to invest in housing and infrastructure but in general Mr Doherty said he “fully supports” the Coalition’s approach.

The briefing said Sinn Féin do not believe the introduction of a new 3pc income tax rate on all earnings over €140,000 would “make Ireland less attractive for multinationals in terms of recruiting/retaining talent”.

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

Mr Doherty told investors Sinn Féin’s proposal to introduce an additional 1pc wealth tax on all assets over €1m would be reviewed by an expert tax group if they are in power to “establish its effectiveness and how much it would ultimately contribute to the exchequer”.

The briefing document for investors said Sinn Féin’s policies on housing and banking differ from the current government but noted the party has removed some of “the most extreme policies” they had for both sectors.

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

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

The document said Sinn Féin’s “primary objective” is to form a left government but realises current polling trends mean “this isn’t realistic” and they are open to a coalition with all political parties.

When asked about Fine Gael and Fianna Fáil ruling out forming a government with Sinn Féin, Pearse Doherty referred to Fine Gael and Fianna Fáil both refusing to enter government with each other previously only for the political goalposts to shift when it mattered.

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

Sinn Féin has been contacted for comment.