A Senior Government Minister is dismissing reports that pensions will be cut in the next budget.

The Agriculture Minister Simon Coveney was responding to newspaper reports that the Government is looking at cutting the old-age pension by around €10 euro a week, to make savings of up to €300m.

The Government needs to meet a €3.1bn Budget-day target.

At present, more than half a million pensioners receive payments of up to €230 a week, with a total cost to the Government of around €5.3bn a year.

Minister Simon Coveney is reassuing pensioners that there are no plans to cut pensions at the moment.

Mr Coveney said: "As a Government Minister, all I can say is that there hasn't been a discussion on that issue in Cabinet at all.

"I don't think that people should be speculating in detail at what is in the Budget with any credibility, because the Government discussion that needs to take place on the overall budget hasn't happened yet."