The Social Democrats have unveiled their alternative budget proposals ahead of the upcoming national budget, outlining a €7.2 billion package that prioritizes housing, childcare, and targeted social welfare measures.

Under the party's proposals, a significant portion of the capital funding would be directed toward addressing the housing crisis. The Social Democrats have called for an additional €1.85 billion in capital funding for housing, aiming to deliver 10,000 affordable and cost-rental homes. The party argues that the current government's housing targets are insufficient to meet demand and that direct state investment is required to scale up the delivery of affordable homes.

In addition to housing, the alternative budget places a strong emphasis on reducing the cost of childcare. The party has proposed a further 30% reduction in childcare fees, building on previous reductions, with the ultimate goal of moving toward a publicly funded, not-for-profit childcare model. This measure is aimed at easing the financial pressure on working families.

For social welfare and pensions, the Social Democrats are proposing a €15 weekly increase in core social welfare rates, including the State Pension, Disability Allowance, and Carer's Allowance. The party has also proposed extending the Fuel Allowance scheme to help vulnerable households manage energy costs during the winter months.

To fund these measures, the Social Democrats' alternative budget outlines several tax reform proposals. These include the introduction of a wealth tax on assets over €4.7 million, changes to the Capital Acquisitions Tax, and the phasing out of certain tax expenditures that the party argues disproportionately benefit higher earners. The party states that these tax measures would ensure a more equitable distribution of wealth while sustainably funding public services.

Party leadership emphasized that their alternative budget represents a costed, progressive plan designed to tackle systemic issues in housing and public services, offering a distinct alternative to the government's upcoming budgetary decisions.