The Labour Party's economic plans have been castigated by Fianna Fáil as marking a return to borrowing, increased taxes on business and cuts in the National Pension Reserve Fund.
Fianna Fáil Minister of State, Mr Martin Cullen, said the plans revealed that Labour would borrow €12 billion if returned to power.
"They have returned to the spend today and forget about tomorrow policies which caused so much trouble in the past," he said.
"The details of their plans reveals tax rises on business, a return to a permanent government deficit and the systematic raiding of the National Pension Reserve," he said.
Rejecting Labour's attacks on Fianna Fáil's management of the Government's finances, Mr Cullen said it remained a "fact" that Ireland continued to have one of the strongest budget balances in Europe.
"What makes their attack particularly rich is that every year since 1997 they have demanded more spending and voted against our tax cuts and spending plans," said the Waterford-based Minister of State.
Meanwhile, the Progressive Democrats' president, Attorney General Mr Michael McDowell said he had predicted that Labour would propose to increase taxes on employment.
"Their proposal to raise employment taxes would impact directly on inward investment in high-tech industry and spell the beginning of the end for Intel, Dell, the IFSC and the high-quality inward investment in jobs," he declared. Fianna Fáil and the Progressive Democrats cut employer PRSI contributions to safeguard jobs and to ensure that Ireland was in position to benefit from a global recovery: "It was not an arbitrary kick-back to bosses," he said.
"Labour's proposals will cost jobs immediately and will destroy job prospects in the medium-term as well. If implemented, they would presage a slump," said Mr McDowell, who is contesting Dublin South East.
The proposal to offer free universal GP care would cost €463 million, he said. "That extra spending would not improve GP services at all. It would make the present inadequate service into an over-used, under-funded mess," he said.
However, Fine Gael deputy leader, Mr Jim Mitchell, welcomed the document. "Labour have very clearly set out what they want, like we have.
We are both going in the same direction." The difference in Fine Gael and Labour's spending plans can be explained by their stands on the National Pension Reserve Fund: "If you take that out of the situation then there is nothing between us," he told The Irish Times.
