The Public Expenditure Minister says it’s important not to create a divide over how to reward workers for their efforts during the Covid pandemic.
The Government is considering ways to compensate frontline workers and who to include in any reward.
An extra bank holiday is one plan being considered.
Speaking on his way into Cabinet, Minister Michael McGrath said nothing has been been decided yet.
"No decision has been made yet in relation to the recognition of the extraordinary work of so many people over the course of the pandemic.
"For me, the most important issue here is that we don't adopt a divisive approach.
"I think there has been incredible solidarity across Irish society over the last 18 months, and we need to be really careful in how we handle this issue."
Environment Minister Eamon Ryan also refused to be drawn into the speculation
But he did agree February would be a good time for a Bank Holiday.
"I'd prefer to discuss it in cabinet, we'll announce in due course.
"I've always said we should have had a St Brigid's Day [bank holiday], the 1st of February.
"Nothing is decided in that regard yet."
