The Tánaiste has said that the Government is working on an inflation-crisis loan scheme for businesses, one that is similar to schemes that were in place for Brexit and the pandemic.
Leo Varadkar said that the Budget will not get on top of the cost-of-living crisis, but that it will take another six months or a year to "tame inflation".
He told the Dáil during Leaders Questions' that doing so requires a "comprehensive" response involving international, European-wide and domestic policies.
He was responding to Sinn Féin's Pearse Doherty, who said thousands of families are being "abandoned" by Government as the Dáil begins the summer recess while the latest Consumer Price Index report from the CSO, showed inflation has hit a 38-year peak.
"Most people are feeling the squeeze, but low and middle-income families are bearing the brunt. What they need is a Government that understands their struggle, and a Government that responds to their needs," Mr Doherty said.
"Today this Dáil will rise for its recess and won't return until September. But workers and families will continue to struggle, week in week out, over the summer months with the cost-of-living crisis."
He said the Government had refused "point blank" to act on Sinn Féin's calls for an emergency Budget.
Mr Varadkar responded that there is an "unprecedented" set of scenarios, including the pandemic and war in Ukraine, leading to inflation rising at a faster rate than in the past 40 years.
"There is no budget whether it is early, late or emergency that will get us on top of the inflation crisis," he said.
"We need to tame inflation. That requires a comprehensive approach. International action, action on a European level and also domestic action as well," the Tánaiste said.
"Because what we have to do over the next six months to a year is get inflation down and tame inflation, not fan the fires of inflation. That won't help anyone in the long run and we do have to avoid that."
Inflation hits 9.1% in June - highest rate in 38 years
