Sinn Féin's finance spokesperson Pearse Doherty has said the government "doesn't fully understand" the financial crisis many families will face this winter.

This comes ahead of the announcement of Budget 2023, and Sinn Féin has its own suggestions for how to help the country through the winter months.

Speaking to Newstalk Breakfast, Deputy Doherty said: "This is about families that are struggling, families that are in a deep, deep crisis."

His party is proposing to reduce energy bills to pre-crisis costs. The measure would apply until the end of February.

In the last two years, the average family's annual bill has increased by €1200.

"We know that people are at breaking point", said Deputy Doherty.

"This is about giving money back to people to help them, not to protect them completely - because we can't do that - but to help them get through the winter months."

Cash payments

Sinn Féin also suggests "income-linked cash payments", targeted at low and middle-income families, such as doubling child benefit, reducing childcare fees and extra support for renters.

"These are measures that are needed - not only needed but they're also affordable. We do have the ability to meet the costs of these."

In this budget, the government is expected to have a surplus of around €4.5 billion, compared to the deficit of €8 billion that was expected.

Deputy Doherty estimated that this part of his party's package would cost "in the region of €4 billion".

Inflation

Sinn Féin has faced criticism for their "universal" approach to price cuts, as some families who aren't struggling will also benefit.

Deputy Doherty said that his party would level the playing field by reducing tax credits for higher earners.

This, he says, coupled with cash payments to low and middle-income people, would avoid further inflation.

"By reducing the cost of electricity at source that has an affect of decreasing inflation, because you're actually taking the price of electricity down."

Latest price hikes

Energia has become the latest energy company to hike their prices ahead of the winter months.

The supplier has said electricity customers will see an increase of 29% from October, while gas bills will rise by 39%.

The change will be implemented on Friday October 7th.

The increases will add around €510 a year to the average customer's electricity bill, and €520 to a gas bill.

Listen back to the full conversation here.

Main image shows Pearse Doherty. Picture by: Leah Farrell/RollingNews