Finance Minister Michael Noonan has said the Government is not averse to raising the minimum wage again to ensure work is paying more than welfare.

Speaking on RTÉ’s Six One News, Mr Noonan said that if re-elected, the Government will eliminate USC over the next five years because he believed it is a "disincentive" to work.

The minister also said that if they can keep the economy growing, the Government would also look at raising the Family Income Supplement.

Mr Noonan also said he was not building next year's budget on excessive corporation tax.

He said the increased corporation tax receipts shows "real economic growth" and that it was bound to happen as the economy recovered.

He said the Revenue Commissioners has told him the vast majority of the returns were from economic activity but that he has budgeted €525m less than what was collected this year and that this will act as a buffer if there is a fall in corporation tax or other taxes.