The Taoiseach has said Minister for Housing Darragh O'Brien will introduce a cap on rents in the next few weeks.
Speaking during Leaders' Questions in the Dáil, Micheál Martin said this cap would be set below the level of inflation.
The Taoiseach was responding to Sinn Féin leader Mary Lou McDonald, who said there was not a single measure in the budget for renters.
Ms McDonald said 750,000 people are renters across the State and she reiterated her party's call for a three-year rent freeze.
She said it took a pandemic for the Government to introduce protections for renters and these have now been stripped away, but the budget did extend a tax break for landlords.
People Before Profit TD Richard Boyd Barrett also raised the issue of rents and said people renting have been badly let down.
The Taoiseach rejected this and insisted the tax package in the budget would benefit renters.
He said there is a variety of measures in the budget to address the rising cost of living, which would also assist those paying rents.
Mr Martin said the recent linking of rents to the Consumer Price Index had been followed by a rise in inflation here and internationally.
He told the Dáil that a new rent cap would be introduced in the next few weeks and it would keep downward pressure on rents.
He added that the Housing for All strategy would deliver more social and affordable homes along with an increased number of rental properties.