The Fianna Fáil leader Micheál Martin has expressed skepticism over reports of what's to come in the budget next month.

Claims in recent days include plans for a cut in the Universal Social Charge (USC), and also in the capital gains tax rate for business owners and investors.

This morning, Tánaiste and Social Protection Minister Joan Burton revealed plans for an increase in the Christmas bonus for social welfare recipients and pensioners.

However, speaking as members of his parliamentary party gather for their annual 'think-in', Mr Martin said we should wait and see.

"People need to be cautious and actually wait until the budget is actually announced, and then be doubly cautious about what promises are made for a couple of years afterwards" he said.

"Cause remember this is the same Labour Party that promised to burn the bondholders, that promised to reduce third-level fees, that promised not to cut child benefit - and then proceeded to do all of those things and do the opposite when they went into government" he added.

He told Newstalk Breakfast we have been here too many times before.