Minister for Finance Michael Noonan accused Sinn Féin of "economic nonsense" in sharp exchanges in the Dáil.

He was replying to Sinn Féin’s Pádraig Mac Lochlainn, who said Mr Noonan knew better than most that he had a choice in next month’s budget.

“He can continue to protect those at the top of Irish society or he can take the pressure off families that have been squeezed by these budgets,” he added. “Will the Minister withdraw the plans for the implementation of water charges and give families a real break in this budget ?”

Saying the economy was growing dramatically, Mr Noonan asked Sinn Féin: “If you want to be a serious force in this parliament, will you at least get background people who understand economics and who can add?”

Mr Mac Lochlainn said the Coalition was not aware of the distress of those affected by austerity. He said that every year Sinn Féin gave the Government detailed and costed budget proposals but Fine Gael continued to protect the wealthy.

Mr Noonan, who was deputising for Taoiseach Enda Kenny at Leaders’ Questions, said he was making light of Sinn Féin’s “pretend economics”. Sinn Féin, he said, had decided in its costed submissions that 85 per cent of the correction in the State’s finances should be made by tax increases. The total proposal in tax increases was more than €7 billion.

Shadow-boxing Mr Mac Lochlainn said Ministers were involved in “kite- flying” and there was party “shadow boxing” while families hoped there was going to be an end to austerity. Various Ministers had trumpeted the improved exchequer figures but the key point was that they gave the Government the opportunity to do the right thing.

“Citizens have faced repeated austerity budgets, cuts across the board to public services and tax increases,” he added. “This has happened directly and through various stealth taxes.”

Mr Noonan said Sinn Féin had opposed every measure to get the country back on an even keel, adding it continued to introduce “red-line” issues for participation in government.

“Nobody is rushing to join you in government . . . Putting down a red line issue is like an old fellow walking up and down the boundaries of the Ballroom of Romance saying he won’t dance with any of those women over there,” he added. “Nobody wants to dance with him.”