Fianna Fáil's Finance Spokesperson has completely rejected allegations made by the Taoiseach who yesterday said promises being made by Fianna Fáil would cost billions of euro.

Speaking on RTÉ's Morning Ireland Michael McGrath said Fianna Fáil has honoured the confidence and supply agreement, negotiated and agreed two budgets and are committed to negotiating a third.

Mr McGrath said his party had no problem with the cut and thrust of politics, but Fianna Fáil would defend its position and Leo Varadkar's statements were "simply wrong."

He said Fianna Fáil was committed to the fiscal rules and maintaining fiscal discipline and everything the party was raising, was within budgetary parameters.

He said the single greatest and most expensive promise - to abolish the Universal Social Charge - was made by Fine Gael and dropped after the election. 

Mr McGrath re-affirmed his party's commitment to the confidence and supply agreement.

Read more: Taoiseach says FF promises would cost 'billions of euro'