The Socialist Party has published its draft manifesto for the October 29 general election, including an increase in the minimum wage to €18 and the introduction of income-related health insurance.

The party also wants to nationalise all public transport and energy companies, and add one million new homes with a rent of less than €800 a month to the national housing stock.

To pay for the new policies, the party wants to bring in a private asset ceiling of €50 million and introduce a 5% tax on all assets over €5 million.

The SP, now under the leadership of Jimmy Dijk, has six MPs in the current 150 parliament and is forecast to win a similar number in October.