Government talks on the economy, taking place today, could stall all major public spend on property.

Ministers are to outline cutback measures, for their respective departments, to counterbalance adverse economic conditions.

The government has already pledged to slash public spending by €440m this year, as state finances begin to deteriorate.

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Next year, this cutback is set to grow to €1 billion.

As well as wage cuts for public servants, with the exception of health and education workers; the Taoiseach, Brian Cowen, will also freeze any public acquisitions of property.

These sales form part of the decentralisation scheme, which will also be put on hold.

For the current year, the Government is hoping to save up to €20m in payroll savings; €50m inefficiencies that were flagged in the Budget; and another €21m saved on advertising, public relations and consultancy fees.

(PR/JM)