Minister for Finance Michael Noonan described Sinn Féin as "a conservative nationalist party" in Dáil exchanges.

The Minister was responding to Sinn Féin finance spokesman Pearse Doherty who said Fine Gael's proposal to abolish the universal social charge (USC) was "reckless".

"Fine Gael says we can afford to abolish it but we cannot afford it," Mr Doherty said. "There is ample evidence across the State to show we cannot afford it."

He said that while Fianna Fáil presented Fine Gael's plan as reckless, the idea of taking €3 billion a year out of the tax net through its proposal was equally reckless. "The Fine Gael plan is just a bit worse," he said. "We cannot afford this."

Mr Noonan said the Fianna Fáil position was not too far away from Fine Gael’s. Fianna Fáil had pitched middle-income people as earning less than €80,000 and Fine Gael defined it as less than €70,000. Labour’s position was not very different either, he added.

“The three traditional parties, if you will forgive me for calling them that, are in and around the same space,” he added. Mr Doherty said they were “conservative” parties.

“Sinn Féin is the most conservative party in the House,” said Mr Noonan.

Statement

The Minister said the spring economic statement would become a summer statement and should be ready by June.

Mr Doherty said while it was “a bit of craic” to discuss which party was more conservative than the other, and the “marriage” between Fianna Fáil and Fine Gael could be part of that banter, the issue being discussed was deeply serious.

He said the USC would bring in €4.6 billion in 2020 and a full debate was nonsense without a full analysis of the costings.