The left-wing group has put forward alternative proposals ahead of this afternoon’s budget which include a landlords tax, investment in the arts and abolition of water charges.

The proposals put forward by the AAA-PBP are made up of €25 billion in adjustments next year.

Although the combined AAA-PBP believe an extra €4bn could be realised from closing loopholes and making other adjustments to corporation tax, when it comes to increasing the levy the grouping have significantly different views.

PBP favour just a slight adjustment on the 12.5% rate, while AAA would like to see far more significant increases.

Publishing their budget 2017 statement yesterday, PBP TD Richard Boyd-Barrett said: “There is a slight difference of opinion between ourselves and the Anti-Austerity Alliance as to what is the way to achieve this and how far we would have to push up the nominal rate in order to get €4bn. People Before Profit believe we could get the bulk of that by ensuring that there is a proper 12.5% rate on gross profits and then raising it a few points.”

Mr Boyd Barrett added that the Department of Finance had not costed changes in the corporation tax rate for them and so it is difficult to ascertain the exact increase that would be needed.

However, Paul Murphy said AAA would be seeking a doubling of the current 12.5% corporation tax on profits over €800,000.

“We think there should be an introduction of a new rate of tax for big business profits, for profits that come in over €800,000 and that there should be a doubling of the existing rate to 25%.”

AAA-PBP would also scrap the local property tax and would instead introduce a landlord tax. This would be charged at €600 on a person’s second property and €1,000 on subsequent properties.

They would introduce a millionaires tax on assets over €1m, abolish water charges and the USC as well as reverse many cuts to social welfare payments and allowances.