The Minister for Finance says he wants to keep and reform the local property tax but he also wants to make sure that homeowners do no't see sudden significant increases to their bill.

Paschal Donohoe says that deferring changes for a year will mean homeowners know where they stand until 2021.

Mr Donohoe says a valuation-based local property tax will continue.

He added that, for many, the value of their property has increased since the tax was first introduced.

The minister has published a report outlining all the options available to reforming the local property tax.

For the majority of people, he said, their bills will not increase and for those who do face an increase, it will be the increase of "a band."

Speaking on RTÉ's Morning Ireland, Minister Donohoe said that work on Budget 2020 is getting under way.

He added that Fine Gael needs to get ready for an election but that he does not see an election for "quite a time yet."

"I am working on getting ready for budget 2020. That work is underway. In two weeks time we will be bringing into Cabinet an update on our economic forecast now for the coming years.

"The focus of my party is in responding back to the challenge of Brexit, so that's the focus of where my efforts are for the moment. We need to get ready for an election, but I don't see an election for quite a while yet."

Mr Donohoe said that Government preparations for Brexit are continuing and that 400 additional Revenue officers have been recruited and are in place.

He said that in the event of a no-deal Brexit, Ireland's relationship with the single market will not change.

He added it would be "a challenge" to maintain the competing prerogatives of the Good Friday Agreement and Ireland's relationship with the single market but he was confident it could be done.

The Minister said he believes Theresa May's statement last night lessens the risk of a disorderly Brexit.

However he urged businesses to continue to prepare for a no-deal scenario.

"The intent that she has now announced, to deal with the Labour party to see if consensus can be reached on key areas is a new development. That being said, I still believe it's a risk and a significant risk. My key message to businesses in particular - if you don't have a customs number now, you have to contact the Revenue Commissioner. Any further time that's made available to us has to be used to get that in place."

When asked about comments made by Minister Finian McGrath about gardaí, Mr Donohoe said that he strongly disagreed with his comments but that he knows Mr McGrath sincerely regrets them.