The Minister for Finance has said any decisions on easing the cost of living crisis will have to be affordable.
Speaking in Brussels, Michael McGrath said: "It's important that whatever we do is affordable, that we manage taxpayers' money well, that we make decisions to get the best possible result from the use of public money."
Ministers will discuss cost of living supports at an economic Cabinet committee on Thursday.
Mr McGrath said depending on the outcome of those discussions, financial resolutions may need to be put before the Dáil next week.
Mr McGrath is in Brussels to attend a meeting of European Union finance ministers.
He said the Government acknowledged the pressures on households and business, but that it was important that any supports were done in a "carefully considered and structured manner."
The Government was making progress on reducing inflation, he said.
Following talks with the hospitality and tourism sector last night, along with Minister for Public Expenditure Paschal Donohoe, Mr McGrath said any move to continue the 9% VAT rate, due to expire at the end of February, would have to be "affordable" and would be taken in the context of other decisions on VAT on gas and electricity, excise reductions on petrol and diesel and the Energy Support Scheme.
"We have to look at it in the round about what the overall cost of the package is to make sure that it is affordable for the country that represents the best and most efficient use of taxpayers money, and that represents the final intervention before the next budget," he said.
"It's important that we manage the public finances carefully, that we use taxpayers' money with the best effect possible, and we're not making new interventions every couple of months," he added.
Mr McGrath said it was hoped this would be the final intervention before the Budget in the autumn.
"We recognise the importance of these issues for ordinary people all over Ireland and indeed for businesses as well, many of whom are grappling with increased costs at this time, so we do the very best we can to make the right decisions and we'll be confirming those in the next week or so," he said.
Labour's Spokesperson on Finance Ged Nash repeated his call for a mini-budget to assist with the cost of living crisis.
He said the Government needs to increase social welfare rates; provide an extra weekly payment; and increase child benefit, which would cost €1 billion.
Jennifer Whitmore, of the Social Democrats, called on the Government to introduce a windfall tax on energy companies and for the money to be used to help householders pay their sky-high bills.
She said the coalition has talked about a windfall tax since last August but have failed to act.
Ms Whitmore said there also needed to be an energy cap to help householders know that they can pay their bills.
The @SocDems deputy @WhitmoreJen says the Govt must introduce an energy price cap so that householders can pay there bills. She adds Govt must also urgently introduce a windfall tax on profiteering energy companies, instead of talking as they have been doing since Aug @rtenews pic.twitter.com/0dtoos086v
— Paul Cunningham (@RTENewsPaulC) February 14, 2023
People Before Profit TD Richard Boyd Barrett said there needs to be an "absolute minimum" pay increase, both public and private, in the order of 10%.
He said this is absolutely essential and needs to be implemented by the Government next week, so that people can deal with the cost of living crisis.
The @pb4p deputy @RBoydBarrett says there needs to be an "absolute minimum" pay increase, both public and private, in the order of 10% so that people can deal with the cost of living crisis. He says there also needs to be social welfare and pension increases. @rtenews pic.twitter.com/sSN6NiyMe0
— Paul Cunningham (@RTENewsPaulC) February 14, 2023
Mr Boyd Barrett said there also needs to be social welfare and pension increases.
Speaking outside the Dáil, he said PBP made this appeal last October when they predicted that people would be absolutely crushed by the spike in costs.
Rent struggles
Taoiseach Leo Varadkar told the Dáil that a lot of people are struggling to pay rent.
He said 170,000 people had applied for the €500 rent credit and he hoped it was something Government could "build on" in future Budgets.
Sinn Féin Leader Mary Lou McDonald highlighted the double digit rise in rents across the country saying people are caught in a rental trap.
Some people are forking out as much as €48,000 a year in rents, while others have to pay up to €1800 every month for a room the size of car parking space, she said.
"This is all happening because Government's housing policy is failing," she said.
Additional reporting Paul Cunningham, Mícheál Lehane
