Sinn Féin President Mary Lou McDonald has teased what will be in the party's upcoming alternative budget as they look to address ongoing rent problems.

The party will set aside €279 million for a refundable tax credit, given to all renters which would be equal to one month's rent. An emergency rent freeze would also be imposed on all existing and new tenancies for three years.

Commenting on the upcoming budget, Ms McDonald said: "In Sinn Féin's alternative budget, which will be published next week, we will show how with the right solutions in place. It is possible to give workers and families a break.

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"Rent is one of the key causes of stress and insecurity among families and working people with the average rent continuing to spiral. Despite these out of control costs the government has failed to take any real action. They have made a political choice to prioritise landlords over tenants.

"It's time for the government to accept that their approach to tackling crisis rents has categorically failed. It is time for fresh thinking and real action. This crisis cannot be allowed to continue. Sinn Féin has the solutions, it is time for Leo Varadkar and Micheal Martin to start listening."

(CM/MH)