Several sources have indicated to RTÉ News tonight that one option being considered by Government could see the owners of home with mica defective blocks receive compensation for repairs of up to around €350,000.

Further costs such as rent, storage and medical expenses for things like mental health could be claimed on top of this figure.

This proposal is still in its early stages and the matter is likely to be considered further by the Housing Minster before it is discussed by the Government party leaders.

Discussions will also have to take place with the Ministers for Finance and Public Expenditure before a memo goes to Cabinet within three weeks.

Earlier, Minister for Housing Darragh O'Brien told mica campaigners that he will bring a memo to cabinet on a compensation scheme in two weeks' time.

In a meeting this evening, the Minister told the campaigning group that a report on the matter by senior Department officials would be sent to them tomorrow.

The Minister said he would then seek to consider this report along with the demand from homeowners that they get 100% compensation.

Followng this, he would meet with the Government party leaders and seek to get support from the Finance Minister and the Minister for Public Expenditure for his proposal.

Earlier, the Taoiseach said nothing was off the table and the scale of Government intervention will be unprecedented.

But he said the concept of 100% compensation was not simple.

In a statement from the Donegal Mica Action Group following the meeting, campaigners said they'd reminded the minister of the urgency of the situation that families find themselves living in.

"We firmly believe that we have all done everything that we can to bring this issue front and centre and to urge all of our political representatives from across Government to do the right thing and to put an end to the pain and suffering of so many families and ensure a better future for all," spokesperson Eileen Doherty said.

Mica campaigners had said earlier that they were "very apprehensive" ahead of the meeting with Mr O'Brien, and his senior officials.

Michael Doherty said he doubted that campaign representatives will be furnished with the draft report, which officials have been compiling for Minister O'Brien since the beginning of July.

Mr Doherty said that a central demand of the campaign is that no-one affected by mica should be left behind, and they'll keep the pressure on the government to deliver on 100% redress right-up to the Cabinet decision - something due to happen within the next two weeks.

He said it would be "not acceptable" for any improvement to the redress scheme to either include a cap on awards or for it to be limited to private dwellings - leaving both landlords and tenants in buy-to-let dwellings out in the cold.

Mr Doherty said it would be better if the Housing Agency, rather than Local Authorities, was involved in the administration of any new scheme because of the scale of what's involved.

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Earlier, the Minister for Housing said that he is "absolutely convinced" that the Mica redress scheme can be improved.

The Government has given a commitment that it will enhance an existing redress scheme, with Ministers stating that all options remain on the table.

The Defective Concrete Block Working Group involves homeowners from Donegal and Mayo, their local authority officials, as well as officials from the Department of Housing.

It has engaged over the summer on possible improvements to an existing mica redress scheme.

Speaking on RTÉ's Morning Ireland, Mr O'Brien said that he will consider in full the details of the report of the working group on the issue, which he expected to receive today.

"I'm acutely aware that already the Exchequer have a commitment of approximately €1.5 billion or up to that, so there is a monetary cost here that we have to be aware of, that can't be ignored," he said.

"Having said that I'm absolutely convinced that the scheme can be improved. With those improvements will come enhanced costs, absolutely, but we need to be able to consider the working group report in a way that allows us to lay out what changes we can make and that's what we're doing," he added.

He said he is willing to consider all proposals.

Mr O'Brien said that no decision has been made on whether stakeholders and the banks will have to pay into the redress scheme.

"We're doing a lot of work in this space in relation to what legal recourse we would have against those who are responsible. I don't have that detail yet," he said.

He said that they could require legislation and new management of the redress scheme to assist the local authorities, possibly through the Housing Agency.

Mr O'Brien added that he has committed to enhancing the existing scheme that he "inherited from the previous government" and since June he has had a working group in place that has had active engagement between senior officials in his department and residents.

"It's a very serious situation for homeowners. They're the people that I am concerned about and concerned with that we can bring a scheme that's enhanced for them," he added.

He said that there have been many meetings and "not every meeting has been easy," describing it as "quite fraught situation".

Opposition parties have backed affected homeowners in their demand for a 100% redress scheme.

They will be looking closely to see if any revised scheme going to Cabinet either caps awards or puts limits on which affected buildings can qualify for redress.

Minister Eamon Ryan has said it would be "unfair" and "cruel" for the Green Party to oppose paying for the re-building of one-off houses destroyed by defective mica blocks.

"This is a problem not of those householders making. You don't walk away from that," he said.

Meanwhile, the chief executive of Banking and Payments Federation Ireland has said it would be a "dangerous precedent" to ask banks to be liable for paying towards the Mica redress scheme when it did not cause the problem.

Brian Hayes told Morning Ireland that the responsibility "is on the people who caused the problem... and that's not the banks".

He said that banks have provided dedicated supports in the affected counties by providing short and medium term liquidity, new credit lines, financial management and some payment breaks.

With reporting - Paul Cunningham