€100 child benefit bonus per child on table to help families amid cost of living crisis

Meanwhile, the 9pc vat rate for the hospitality industry is expected to be extended for the summer months before returning to 13.5pc.

Businesses are also in line to benefit from a shake up of the the €1bn Temporary Business Energy Support Scheme (TBESS) which will allow them claim up to €12,500 a month for their utility bills. The revised scheme will also allow more businesses to apply as the criteria for accessing the scheme will be loosened.

Taoiseach Leo Varadkar, Tánaiste Micheál Martin and Environment Minister Eamon Ryan are meeting with Finance Minister Michael McGrath, Public Expenditure Minister Paschal Donohoe and Social Protection Minister Heather Humphreys to discuss a new series of Government supports for households and businesses struggling to pay bills.

Ms Humphreys is bringing a proposal to the meeting of the Government leaders tonight which would see all welfare recipients receive an extra €150 in their weekly payments.

This would apply to people in receipt of the State pensions, jobseekers benefits, carers and disability allowances among others.

Ms Humphreys is also proposing a €100 monthly top for every child on the child benefit scheme. Fine Gael are insisting on the child benefit payment as they want interventions of a universal nature along with those that are more targeted at vulnerable families.

Government sources said the level of payment could increase for both welfare and child benefit once the Government leaders examine the funding available for cost of living supports.

Excise duty on petrol and diesel is expected to rise slightly but it will not return immediately to the levels it was before the inflation crisis force the Government introduce reductions.

The Green Party are concerned over Fine Gael’s stance on the cost of living supports with one source saying: “Varadkar wants to keep everything and is not proposing any new revenue raising measures - it’s crazy.”

Meanwhile, under the new business energy support scheme drafted by Enterprise Minister Simon Coveney companies will be able to claim up to €12,500 a month to help pay their energy bills.

Under the existing scheme they can claim €10,000 per month as long as they have experienced a significant increase of 50pc or more in electricity and/or natural gas prices compared to the previous year.

The percentage change from the previous year is expected to be lowered under the reimagined scheme to allow more businesses to apply for the funding.