The extra holiday would serve as a day of remembrance and to thank frontline workers for their efforts during the pandemic.
Speaking on RTÉ radio’s Today with Claire Byrne, Mr Varadkar said it was too late to have the bank holiday around St Brigid’s Day on February 1st, as employers need plenty of notice.
“We want to do an additional bank holiday next year. We would also like to have a new permanent bank holiday,” he said.
“In the last week or so we feel that announcing the public holiday for January 31st or February would be inappropriate given where we are. The pandemic isn’t under control.”