The Minister for Finance has received a report into cutting costs in the public sector, drawn up by a group chaired by economist Colm McCarthy.
It is understood Minister Lenihan will bring the report to Cabinet next week, when a decision may be made on whether it should be published.
It is understood the group, known as ‘An Bord Snip Nua’, has recommended some fairly radical measures to cut Government spending, which the Cabinet will have to consider before next December's Budget.
Considering the proportion of Government spending that goes on staff costs, the proposed cuts are likely to focus on the areas of public sector pay and pensions.
The first decision ministers will have to make is whether to publish the report.
In the Dáil during the debate on the legislation providing for the second referendum on Lisbon, Fianna Fáil TD Mary O'Rourke said the report should be published, otherwise it would become an 'albatross' around the Government's neck during the Referendum campaign.
NAMA's role
Earlier Mr Lenihan said that the process of valuing land and building projects to be managed by the National Asset Management Agency had yet to be decided.
He reiterated that NAMA would take over performing - as well as impaired - development loans when it is established.
The Minister said these will involve land and building projects that would include completed schemes.
He told TDs that the valuation methodology had yet to be decided, but that it could take into account the future value of property and loans under EU rules.
The Taoiseach also came under pressure to publish the McCarthy report and the NAMA legislation - before the Dáil rises this week.
However, Mr Cowen told Opposition leaders that cutbacks must first be approved by minsters and said the NAMA plan would emerge later this month.
On the last Leaders' Questions before the Dáil rises for the summer, the Opposition sought details of how the Government planned to manage the economy during the recess.
Fine Gael leader Enda Kenny asked the Taoiseach to examine his party’s plan, which he said could create 180,000 jobs, claiming the Government lacked a strategy of its own.
Mr Cowen said everything ministers were doing was planned and described the Fine Gael scheme as 'all cuts but no cuts' at the end of the day.
Labour's Eamon Gilmore said the Taoiseach was doing nothing but deferring decisions.
