The Taoiseach Enda Kenny says the Spring Statement will allow the government set out 'where we want' Ireland to be in the years ahead.
The Ministers for finance and public expenditure will be hoping to convince voters that any recovery in recent months is down to government policy, and the sacrifices of the Irish people.
Around €3bn of tax cuts and spending increases are being lined up by the coalition over the coming years - thanks to factors like economic growth, increases in tax revenues and falling funding costs.
Mr Kenny says it is an opportunity for the government to outline its plans for the future and highlight progress that has been made.
Finance Minister Michael Noonan says cuts to income tax and the Universal Social Charge (USC) will improve living standards every year until 2020.
He says the measures outlined in his Spring Statement will benefit middle and lower income earners in particular.
Mr Noonan says the actual cuts to tax rates will be announced on budget day - but that changes are on the way.
The Cabinet is also expected to approve this morning plans by Brendan Howlin to open pay talks with public sector unions.
This afternoon in addresses to the Dáil similar to a budget Mr Noonan and Mr Howlin will outline the broad economic parameters for the next five years.
Marking the end of austerity they will signal further tax cuts and spending on services next year totalling at least €1.5bn.
But they will also signal further changes in 2017 and beyond if the current coalition is re-elected, saying the recovery did not happen by chance and that it was government policy and the sacrifices of the Irish people.
They will also signal that they can now bring unemployment below 9% this year - much earlier than thought, that there will be no rise in corporation tax, and that living standards will rise.
Mr Howlin will also secure Cabinet approval this morning to begin talks with public sector unions to reverse pay and pension cuts imposed over the last seven years.
He says the coalition has to find a 'path' to public pay restoration that does not damage the economic recovery.
But the biggest battle for the coalition may be getting their message across to people as the Siteserv/IBRC controversy rolls on.
We will have live coverage of the Spring Statement on Newstalk.com today with live tweets from @newstalkfm, analysis and a run down of how the Spring Statement will affect you.
