Sinn Féin is to set aside almost €1 billon for welfare increases, including reversing some previous welfare cuts, over the lifetime of the next government.

The party is due to unveil its manifesto next week and says its spending plans will be based on the assumption that €8.6 billion of possible future resources will be available to the next government, the so-called “fiscal space”.

However, it accepts that an additional €1.2-€1.5 billion may be available due to a loosening of EU budgetary rules – which has already been factored into the €10 billion Fine Gael says may be available.

Sinn Féin finance spokesman Pearse Doherty said that while the money is likely to become available, it is “not money in the bank and you can’t be spending it”.

Fianna Fáil also said it is working off the figure of €8.6 billion but it too accepts an extra €1.5 billion is likely to become available.

Minimum wage

Of its €1 billion welfare fund, €250 million will be unallocated but the remainder will go towards restoring payments such as the bereavement grant, increasing disability payments, the fuel allowance and family income supplement.

It is also expected to commit to restoring the dole for those under 26 to the full adult amount of €188.

The rate for people aged 25 is €144 per week, while the personal rate for people aged 18-24 is €100 per week. The party will also set aside €250 million in unallocated money for future public-sector pay increases once the current Lansdowne Road Agreement expires in September 2018 and a further €250 million to cope with pressure on acute hospitals.

A total of €3.3 billion will be set aside for health spending over the lifetime of the next government and the party will announce its other spending priorities, such as in childcare, next week.

Deputy leader Mary Lou McDonald said the party will stand by the terms of the current public sector pay agreement, even for higher-earning public sector workers, but claimed there is a disparity between lower earners in the public sector and those on lower wages. She said a review of public sector pay “in its totality” is needed.

Sinn Féin leader Gerry Adams said Fine Gael, Labour and Fianna Fáil should withdraw their manifestos because he claimed they are based on false budgetary figures.

Fiscal space

Mr Adams criticised figures used by the other parties to define the amount of possible resources available to the next government, the so-called fiscal space.

He accused them of being “disingenuous”.

“We will use the fiscal space, not to spook and to be disingenuous in terms of trying to deceive the voters or to reward those who are better off, but to invest property in housing and childcare, to invest in public services and that will sustain and promote growth,” Mr Adams said.

“We have been very clear from day one that the fiscal space is €8.6 billion.

“There is no magical €2 billion additional that has been claimed by Minister Noonan, Minister Howlin or indeed Michéal Martin.”