The Cabinet met again today in the latest in a series of meetings preparing for tomorrow's Budget.
It is understood Ministers signed off on a list of spending cuts and taxation measures aimed at raising €3.5 billion in revenue for the Exchequer.
As he arrived for the meeting, the Minister for Communications, Eamon Ryan, said the Government had to raise taxes and broaden the tax base.
This was the tenth time Ministers had met to discuss the shape of tomorrow's emergency Budget. While the Cabinet will meet again tomorrow morning, that is expected to be a formality.
The Government has made it clear that tomorrow's Budget is part of a process that will aim to restore the public finances over a number of years.
In a Fianna Fáil webcast last night, the Taoiseach said the Government's priorities were to maintain as many jobs as possible, help those who have lost their jobs, and protect the most vulnerable to the greatest extent possible.
Mr Cowen also signalled that the Government would be making 'big strategic decisions' about the banking sector.
