Sinn Fein is proposing an emergency cap of €100,000 be imposed across the public service for 3 years.

The idea is contained in the pre-budget submission from the party which is being launched today.

They are also looking at capping the pay of hospital consultants and city and county managers.

The party is also expected to propose the introduction of a wealth tax which they believe would raise €800 million for the Exchequer.

Sinn Fein finance spokesperson is Pearse Doherty.

He says the state of the public finances means extreme measures have to be taken on public service salaries.

"People in politics need to wake up - the country is absolutely broke" he said.

"The government will implement a huge austerity budget in the next number of weeks that will again affect the same vulnerable people in society - low and middle-income earners".

"When we are broke, we have to ask ourselves a question: can we afford to pay out of the public purse salaries above €100,00 in the public service?" he added.