The Cabinet has agreed to hold a number of referendums in 2015, including one on the issue of same-sex marriage.
The government has been meeting to finalise plans for taking the question to the people. The announcement comes amid concerns that the public is suffering from 'referendum fatigue'.
The Tanaiste Eamon Gilmore has already signalled that the issue of gay couples adopting children will be dealt with before then so that the referendum can be on the issue of same-sex marriage alone.
While the Finance Minister is the latest to say he has no objections to gay marriage, and that the issue has to be addressed.
"We have to have a non-judgemental society where different lifestyles are not only accepted, but celebrated. Gay marriage is an issue which I think at this stage has to be dealt with; and it's a question then of taking the best advice on the manner in dealing with that, and the timing of it" he said.
"But personally I have no objection to the principal" he added.
The rights group GLEN has welcomed the news. Its Chairman Kieran Rose said "The government's acceptance of the Constitutional Convention recommendation is another historic step in the remarkable 20 year journey from gay law reform to full Constitutional equality for lesbian and gay people in Ireland"
While Mark Kelly, Director of ICCL added "When the people of Ireland vote on this issue in 2015, we will be participating in a final act of legal recognition of the full equality of our gay and lesbian colleagues and neighbours, friends and family".
Newstalk's Political Editor Shane Coleman told Lunchtime here on Newstalk that a single referendum day is likely to be held arising from the findings of the Constitutional Convention.
Irish progress on gay and lesbian issues:
1993 Equality-based legal reform that abolished old criminal laws on homosexuality
1993 Unfair Dismissals Act updated to protect lesbian and gay workers
1996 Ireland becomes one of the first countries to offer explicit protection from persecution to lesbian and gay people in the Refugee Act
1996 Irish government support ensures inclusion of sexual orientation protections in the EU Amsterdam Treaty
1998 Lesbian and gay employees protection in all aspects of employment and recruitment in Employment Equality Act
2000 & 2004 Protection for lesbian and gay people in the provision of all goods and services in the Equal Status Act
2010 Civil Partnership Act provides marriage-like rights and responsibilities for lesbian and gay couples
2010 Social Welfare amendment Act provides for equal treatment for civil partners and cohabiting same-sex couples in all social welfare provisions
2011 Finance Act provides for equality in tax provisions for civil partners
2013 Constitutional Convention votes overwhelmingly to support marriage for lesbian and gay couples - and to update family legislation to recognise and support lesbian and gay families