A junior minister says the economy will spiral into an 'unsustainable position' if the government attempts to follow the trail of inflation.
Sinn Fein has renewed its call for an emergency budget to tackle the rising cost of living.
It comes ahead of a national protest due to take place in Cork and several cities tomorrow, calling for immediate government action to address rising prices.
The Cost of Living Coalition has agreed to campaign on a number of demands including the protection of incomes, the control of energy costs and a commitment to make housing affordable.
Minister of State with responsibility for Local Government and Planning, Peter Burke, says the government is already servicing high levels of national debt:
"So we've taken action in every single month, February, March, April in terms of interventions, some which are only coming into effects now like increasing the Working Family Payment. We've taken these measures, the government has taken a very close watching brief, reflective of the fact that we are now servicing a debt of a quarter of a trillion euro in this country. So we can't just, every single month, have new initiatives and follow the inflation trail".
