The National Cyber Security Centre (NCSC) director, Richard Browne, told the Irish Examiner that the "intrusive" monitoring powers would be similar to the measures granted to France’s cybersecurity agency during the recent Olympics in Paris.

The NCSC will be able to apply to the High Court for such monitoring powers when there are grounds for believing there are  “real and persistent risks to the security of the State” or to the integrity of public sector data, or to the continuity of essential services", according to Browne.

“That essentially means the entire Irish IP address space,” Mr Browne said. “They’re explicitly emergency powers. They’re subject to very heavy oversight.”

The proposed General Scheme of National Cyber Security Bill comes in the midst of a rising cybersecurity threat and a "significant uptick" in foreign interference during a period when more than half the countires in the world, including Ireland, are set to hold general elections.

Ireland is also a key location within Europe for cloud computing hubs and data centres, which are increasingly used by financial services firms.