Minister Pat Carey has said the Government will have to examine every area of income and expenditure in the Budget because the country is in a crisis situation.
The Minister for Community, Equality and Gaeltacht Affairs was speaking on RTÉ's The Week in Politics programme.
Mr Carey said the technology could be in place to allow for the 'comprehensive' metering of water inside 18 months.
On a possible property tax, he said that there are 'some discussions around site values that has got to be explored'.
He also rejected Fianna Fáil backbencher Mary O'Rourke's view that there should be a General Election before Christmas, saying a snap election would be 'unwise and dangerous'.
But Minister Carey admitted that it is not 'beyond the bounds of possibility' that December's Budget could be so severe that the Government would not be able to get it through the Dáil.
He said in that event 'we would be in a different scenario'.
Fine Gael Health Spokesperson James Reilly called for an immediate General Election, saying a newly-elected Government would calm the markets.
Labour Education Spokesperson Ruairi Quinn said that a new Government could be in place by the beginning of November if an election was called now.
