IBEC leader Turlough O'Sullivan has said the partnership talks were progressing well.
He said that this afternoon they had concentrated on the enterprise agenda, export credit and assistance for companies.
He said they had also discussed the devaluation of sterling and the cost of energy.
He said it was no longer tolerable that we had the second highest energy costs in the EU.
Asked if taxation had been discussed he said he would rather not comment on that and, asked if the taxation question had become a sticking point, he again said he would rather not comment on that.
He said he thought IBEC might be back for talks tomorrow and that at this stage he thought the Government's deadline of next Tuesday was now being taken on board and he was hopeful.
The talks adjourned around 8pm tonight are to resume tomorrow.
Minister for Finance Brian Lenihan has said Ireland needs to broaden its tax base.
Winding up the Dáil debate on the economy, Mr Lenihan said the Social Partners had been informed that any taxation measures being introduced would ensure that the higher proportion fell on high incomes.
He also said that bigger savings than those being discussed for this year will have to be achieved next year.
Speaking on his way into today's talks, INTO General Secretary John Carr said his union wanted to see if pensions could be protected like the banks had been. He said pay was not on the agenda today.
Impact General Secretary Peter McLoone warned that the talks might go on into the weekend.
He said one of the core items in the framework document was recognition of a need to broaden the tax structure.
Mr McLoone added that IMPACT would be trying to ensure fairness and that everyone would share the burden.
Yesterday, Mr McLoone warned his members that the Government might impose a 10% pay cut on salaries if the recovery plan cannot be agreed over the coming days.
All the social partners have agreed to accept the Government framework document as a basis for negotiations.
Speaking on RTÉ Morning Ireland, Minister for Social and Family Affairs Mary Hanafin said it was vital that a deal is reached within the next week.
Also on Morning Ireland, Bernard Harbor said that public servants would have to accept some difficult decisions.
Cowen urges redoubled efforts on economy
Meanwhile, Taoiseach Brian Cowen has said that Ireland must redouble its efforts to sustain jobs and attract investment.
Mr Cowen said: 'We want to keep that foreign direct investment up. Yes there are difficulties but we have a strong balance sheet in business terms. The profit and loss account is weak in coming quarters but we will make whatever adjustments are necessary.
'It's a question of showing that Ireland is very anxious in continuing on a very successful path while dealing with the very serious difficulties we have to contend with.'
Mr Cowen acknowledged that 2008 had been a difficult year but he said that 130 new industries were brought to Ireland last year.
He was speaking ahead of engagements at the World Economic Forum in Davos in Switzerland where he will promote Ireland as a location for investment and international business.
The Taoiseach also said he has been keeping in close contact with the social partnership talks and things are going well.
Speaking to RTE's Europe Editor Sean Whelan in Davos, Mr Cowen said engagement at the talks was 'sincere and deep and constant' and they 'would keep at it'.
Click here for complete Davos coverage
Elsewhere, the Minister for Finance has pledged to redouble efforts to stabilise the financial system.
Brian Lenihan said the bank guarantee scheme would continue for two years and he said discussions were continuing on recapitalisation of Bank of Ireland and Allied Irish Banks.
The Minister said the banks were capitalised above the minimum EU level, although the markets still required further confidence.
Mr Lenihan said it was essential that we restore our competitiveness, address the fall-off in revenue and address the need to economise to ensure that Ireland can 'pay its way'.
