The president of Sinn Féin, Mr Gerry Adams MLA, has told the Dublin business community his party has no plans to increase business taxes, although it still strongly believes in wealth redistribution.

In a rare address to the city's leading companies, Mr Adams told the Dublin Chamber of Commerce that while the taxation system needed an overhaul, his party had no immediate plans to increase business taxes.

Addressing a business breakfast, he was pressed on the issue by several audience members. He said he was reluctant to say the party "would do A or B", but it had no plans to increase business taxation levels.

In a well-received address, Mr Adams said Sinn Féin was delighted to be engaging with the Dublin business community. Most of the questions he was asked were general in nature.

One man asked how a united Ireland would be funded. Mr Adams replied: by the Irish people. Another woman asked about the euro's strength against sterling and other currencies. Mr Adams said the whole island of Ireland should be allowed participate in the euro zone.

Throughout his speech he emphasised that equality was still at the heart of the party's approach. "I am a politician, not a businessman, so I look at the economy not just in terms of the creation of wealth, but how can that wealth be used for the benefit of everyone."

Before his speech, the president of the chamber, Mr David Pierce from Ulster Bank, said some had suggested Sinn Féin's policies were "fuzzy and left leaning".

He said one economist suggested Sinn Féin was not aware the Berlin Wall had disappeared more than a decade ago.

Mr Adams in his presentation did not respond, but he admitted Sinn Féin did not have all the answers.

"I am often asked will Sinn Féin increase business taxes when we are in government. We believe everyone should pay taxes. This should be on a fair basis.

"The Government makes a big issue of tax cuts. But at the same time small businesses are being crucified by insurance costs and services charges," he said.

"Sinn Féin opposed the cutting of corporation tax to 12.5 per cent, especially as minimum wage workers were in the tax net. So we're not in principle opposed to higher taxes, though we have no plans to increase them. Instead, we want a comprehensive reform and overhaul of the tax system."

He said he disagreed with the way the Minister for Finance, Mr McCreevy implemented tax cuts. Instead of just cutting tax, cuts should be tied to particular targets, he said.

"We believe tax cuts should be incentive driven. That means linking low corporation tax to good environmental practices, to the provision of childcare, to investment in worker training and education."

He said the business community itself would benefit from "clarity" on the issue of taxation.

Mr Adams said he first started coming to Dublin more than 40 years ago. "Here I can do normal things like going to the pictures, the theatre or shopping." But he said he noticed not enough was being done to develop business in the capital.

"Sinn Féin wants to see one agency dealing with all indigenous businesses in Ireland. We want to see the same level of investment and aid made available to local business as is available to multinationals."

He said the city's transport system was "creaking" and the Government did not appear to be listening to the views of business on this key issue.

"Let me ask you what consultation was there with the business community here over the roll-out of the LUAS? Has central Government consulted with you about the plans to privatise Dublin Bus? Will you really be better off in 10 years' time with an unaccountable, transnational transport company that may be running Dublin Bus?"