DUBLIN – Irish Prime Minister Simon Harris on Friday announced the formal start of the country's general election campaign, hoping to retain his coalition's lead in polls and to capitalize on a slide in support for the opposition Sinn Fein.

Harris had until March to go to the polls, but has been paving the way for an earlier election since a 10.5-billion-euro giveaway budget that began hitting voters' wallets this month. He confirmed this week that voting day would be Nov 29.

"The time is now right to ask the Irish people to give a new mandate," Harris told journalists in front of his office, before departing for the president's residence to seek the formal dissolution of parliament.

READ MORE: Ireland set to hold general election on Nov 29, PM says

Sinn Fein's ambition to prevent an unprecedented fourth successive term for Harris' Fine Gael looked probable a year ago, but its support has collapsed over the last year and been further hit by a string of internal controversies.

The campaign should be about who can "credibly" increase much-needed housing supply, oversee a fair but firm immigration system, and prepare for a potential transatlantic trade shock from Donald Trump's election as US president that could hit Ireland's finances, Irish PM said earlier on Friday.

"Our discussion in the weeks ahead does need to broaden. Up until now it's been about how you're going to spend the money available to government," he said.

"Dependent on being able to spend that money is being able to generate it, keep jobs, keep investment and show leadership at an EU level."

An average of the most recent polls put Fine Gael on 24.5 percent, its main coalition partners Fianna Fail on 21.5 percent and Sinn Fein on 18.5 percent, according to the Irish Polling Indicator. Sinn Fein was polling at 35 percent as recently as a year ago.

Speaking to supporters late on Thursday, Sinn Fein lawmakers said it was naive to write the party off as they sought to turn the focus to voter frustration over unaffordable housing costs and strained state services.

ALSO READ: UK PM Starmer visits Ireland seeking to reset ties after election win

"Simon Harris and (Fianna Fail leader) Micheal Martin believe that they have it all sewn up. I think the people of Ireland will have something to say about that," Sinn Fein leader Mary Lou McDonald said.

Sinn Fein needs a repeat of its stunning surge during the 2020 election campaign as it likely has to finish well ahead of Fine Gael and Fianna Fail to cut off their path to re-election, since both have pledged to govern together again without it.