The Anti-Austerity Alliance says it is hoping to build a new movement to transform Irish society and represent working class people.
The party is due to merge with People Before Profit in the coming weeks, to form a political group to contest the next General Election.
The group is holding its first annual conference in Dublin today.
Today's conference will include talks from a homeless speaker from this week's NAMA occupation in Dublin this week, as well as anti-austerity campaigners from Greece and the UK.
TD Paul Murphy says one of their key policy proposals will look to get corporations and wealthy people to pay more tax:
The Registrar of political parties was notified earlier this month of the grouping called 'Anti Austerity Alliance-People Before Profit'.
The party will not "participate in any government with the parties of the Irish establishment i.e. Fine Gael, Fianna Fáil, Labour and or any right-wing parties/independents," Deputy Richard Boyd Barrett said when announcing the initiative.
The group is backed by 4 TDs - Joe Higgins, Richard Boyd-Barrett, Ruth Coppinger and Paul Murphy - and 28 Councillors. The group plans to field up to 40 candidate in the general election.
