Hillery, president of the 7 p.c.?

In a 1979 Irish Press article on unveiling of the Larkin statue in Dublin, it says that "there was a small number of protesters present at the unveiling who carried placards which said "The inner city has not changed since 1913" and "Hillery, president of the 7 p.c."". While I understand the first slogan to refer to the Dublin lockout and being a socialist message, what does "7 p.c." mean?