Tanaiste Leo Varadkar has said that the government has no plans for further intervention in the cost of living crisis before Budget 2023.
Speaking on RTE's Morning Ireland on Wednesday, he said for there to be any consideration of intervention, there would need to be further dramatic escalations in fuel prices.
He said: "We've no plans for a further intervention until budget day, and the budget will happen in the autumn, but you know, as is always the case, I'm reluctant to definitively rule anything out 100% because this is a rapidly changing situation.
"I think if we were to see further dramatic escalations of fuel prices, we'd have to give consideration to an intervention then."
He added: "Let's not forget what has been done. We've reduced excise on diesel to the lowest amount allowed under European law. I know that the cost of living in Ireland compares unfavourably with other parts of the Eu if you look at the cost of petrol and diesel it's roughly the same across western Europe we've got the lowest vat rate ever now on electricity and gas and we've taken the 200 euros off as well."
Mr Varadkar insisted that the economy is in "very good condition".
He said: "What I can say is that the economy is in very good condition. More people have worked than ever before. More people are earning more than ever before - record trade numbers. We do have financial firepower that we didn't have in the past, and some of that, not all of it, can go towards public sector pay.
"What I said at the castle at the National Economic Dialogue on Monday was I thought that the solution could have three elements. A bigger percentage increase for lower-paid public servants up to a certain amount. A smaller increase for those above a certain amount.
"We can then help make up the difference through tax reform. Very keen to make sure that people getting a pay increase don't lose 52% of it in tax USC and PRSI. That's why I think tax reform can be part of this.
"And third making some commitments on what the unions call social wage because what's important is not just the money you earn, its how much you take home and how far it goes and areas like childcare, for example, would be very important.
"You know a lot of public servants spend a lot of money on childcare often the same people are paying high rents and saving for a mortgage, and a lot more people who I think we could get to do extra hours or get back into the labour market more quickly if we reduce childcare costs.
"So I think if we do it around those three elements, it's possible to find space for an agreement, and we do want an agreement."
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