Revenue may lose €3bn as housebuilding forecast cut

UP TO €3 billion could be wiped off government tax revenues next year, as Davy again cuts its forecast for house completions.

The Dublin-based stockbrokers had predicted up to 55,000 houses would be built in Ireland next year, a drop from the 74,000 completions expected this year.

But Robbie Kelleher of Davy Research said it would be cutting its forecast over the coming weeks to the mid-40s and he said in time the figure could be even lower.