Government capital spend could be slashed by €300m in a bid to boost public finances.

It is likely the majority of this capital would have been released for the purchasing of land and property, for the government's decentralisation programme.

It has been reported the government will make the announcement, which will take effect next year, to tackle serious domestic economy concerns.

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The move is set to form part of a plan to save around €1billion from next year's budget.

It is expected many decentralisation schemes, across the country, will be halted when the plug is pulled on capital investment programmes.

Meaning the government's spend on property and land will dramatically fall.

Reports today, have also suggested €600m will be cut from the government's external consultancy, advertising and public relations budget.

See: Taoiseach Freezes Public Property Acquisitions

(PR/JM)