The Toffees took the lead in Saturday's semi-final at Wembley via Nikica Jelavic on 24 minutes and held their advantage until just after the hour mark, when Sylvain Distin's mis-hit backpass put Luis Suarez through to equalise.

All the momentum was with the Reds and Andy Carroll's winner four minutes from time was the result of a second half of increasing pressure.

Afterwards Baines rued the Toffees' failure to push on after they had taken the lead.

He said: "We took the lead but we never really built on it. Once they got the goal they built on it.

"Even before half-time I thought they got on top of it and we knew we had to try to play a bit better in the second half and we weren't good enough.

"They were on top for most of the game and we weren't really good enough in possession.

"We gave it away and didn't really create any chances."

Chances

Liverpool had the better of the opportunities, with Carroll squandering a gilt-edged chance early in the second half when he planted a header wide from close range.

Jelavic, after five goals since his January arrival from Rangers, looked sharp but Everton did not get the best out of the Croatia international.

"If you give Jelavic chances he has shown he will score, but we didn't give him many opportunities," added Baines.

"He got a slice of fortune and was 'Johnny on the spot' for the opening goal and made a chance for himself."

With seventh-placed Everton ahead of Liverpool in the league Baines said that was the incentive for the remainder of the season.

"We need something to focus on and that will be it," said the England international.

"It will take a few days for the dust to settle on this one and then we will go again."