‘Certainly, we're looking at families and children, in particular, because obviously, the costs will be higher for families’
Other proposals being considered for Budget 2023 later this month include a double payment of Child Benefit, the €200 electricity credit, a €100 lump sum for fuel allowance recipients and a one-off double Working Family Payment
Speaking about government efforts to ease pressure on hard-pressed homes as the winter approaches, Taoiseach Michael Martin said: "Certainly, we're looking at families and children, in particular, because obviously, the costs will be higher for families.
"There are two elements to it; in the cost-of-living package, we want to allocate as much as we possibly can in the 2022 financial year. Then there are the budgetary measures where we do have to look at it from a policy perspective, a more sustained improvement, for example."
It has been reported that the Government is also looking at reducing childcare costs by €200 per month next year and a further €200 per month the following year.
A 25 per cent increase in student grants and a considerable reduction in third-level fees are also up for discussion.
Renters are expected to benefit as sources have indicated that the Department of Housing is considering a tax credit.
It is also likely that landlords will benefit as Housing Minister Darragh O'Brien indicated that an incentive would be introduced to encourage them to remain in the housing market as rental supply remains at an all-time low.
The Government is also discussing giving households a total of €600 off their bills over a number of months.
It is expected this will come in three instalments of €200 energy credits between now and next spring.
Tánaiste Leo Varadkar indicated that people would get the support before and after Christmas.
Businesses are also expected to receive assistance to prioritise protecting jobs.
Earlier it was reported how the average worker could get tax cuts of almost €1,000 a year in the Budget if the Government introduces a suite of measures outlined this week.
Public Expenditure Minister Michael McGrath has presented a potential €1.8bn Budget package containing sweeping reductions to income taxes and the USC, along with increases in tax credits.
According to independent.ie, if all the measures were to be announced on Budget Day, a taxpayer earning €45,000 a year could save as much as €959 per year.
Mr McGrath gave a presentation at the Fianna Fáil think-in earlier this week that set out some of the key tax measures being considered by the Government ahead of the Budget on September 27.