Construction Industry has reservations about budget for new homes

The Construction Industry Federation are broadly supportive of Budget 2016 announced today, which sets Ireland on a positive path for economic growth and recovery. However,  the Federation stresses that further action is needed in order to kick start growth in the construction sector, which currently employs more than 125,000 people. CIF Director General Tom Parlon said: “there are a number of positive initiatives announced by the Government, including the extension to the Home Renovation Grant, the increased provision for social housing, and measures to assist self-employed.  However, while we welcome the provisions that NAMA can provide 20,000 houses between now and 2020, this will only deliver to 4,000 units per annum, which equates to only 25% of broadly acknowledged annual national demand.  There are no proposals to address the issue of costs of providing new homes, the availability of affordable development finance, or the availability of mortgages.  We are concerned that this may be a lost opportunity to support the construction of much needed additional homes to meet sustainable demand.”      

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