Sinn Féin's Martin McGuinness has confirmed that he and party leader Gerry Adams have a plan on how the party will transition to a new leadership over the coming years.

However, Mr McGuinness did not say when he would stand down from his position as the effective Sinn Féin leader in the North and Deputy First Minister.

However, he left open the possibility that it might occur around the same time as Mr Adam’s plans.

His comments were made at the party's parliamentary party meeting in Co Meath and came after the party's finance spokesman Pearse Doherty said he had no "personal ambition" to lead Sinn Féin, effectively ruling himself out of any succession race.

Asked about whether she harboured any ambition to become leader, deputy leader Mary Lou McDonald said she had “no comment” to make on that question.

It comes a day after Mr Adams said for the first time he has now decided on a timetable for when he will step down as leader. It forms part of a wider ten-year strategy for Sinn Féin which will be presented to its Ard Chomhairle later this year.

“Gerry and I have had our own discussions about that. We are in a party in transition. It is sensible (to discuss the leadership question).

“He and I have a plan about how this will be done. This has to be endorsed by the leadership. When that is decided the party has to decide who will lead the party in the future.”

Mr McGuinness added: “The only person who will decide in conjunction with an important group of people will be Gerry Adams.

“When a new leadership takes over it will be well-equipped to take the party forward. A lot of parties are concerned they may not have people with the calibre to take the party forward. We have no concerns about that.”

Asked about the ongoing Dublin Bus strikes, Ms McDonald was critical of Transport Minister Shane Ross who she claimed had gone AWOL from his job.

“We have witnessed the chaos now across the city. Shane Ross is not doing his job… He needs to step forward now and act as a Minister,” she said.

In his address to the meeting, Mr McGuinness argued the cross-Border forum on Brexit should discuss the North and Scotland staying in the EU, even though other parts of the United Kingdom may leave. He said that would respect the democratic will of people in both those jurisdictions.

“The forum should be established… to examine all options for defending the interests of the irish people, including the option of the North staying in the EU,” he said.

He said there was no soft landing or good outcome possible from Brexit if it were to impact the North.

Mr McGuinness also referred to the former chair of the Assembly’s finance committee, Daithí­ McKay, who resigned as an MLA when it emerged he had coached a loyalist witness.

“(Mr McKay) is someone for whom I have a lot of time. He was a hard-working and intelligent MLA.

“His actions were wrong and they were entirely unacceptable. It was an unfortunate episode,” he said.