CIF: 320,000 jobs will be lost
Speaking at the GMIT International Construction Management Conference in Dublin, Mr Parlon blames cuts implemented by the previous Government for the plight facing the construction sector.
Citing analysis by DKM Economic Consultants, Mr Parlon also noted that construction output fell from €38.5 billion in 2006 to €12bn last year. CIF projects that output could fall to below €10bn this year.
“The past three years have witnessed the worst recession in construction in living memory and the signs are that the recession is deepening, with huge implications for the wider economy,” Mr Parlon said.
“The Public Capital Investment Programme, used by other economies as a means of pump priming economic recovery, was decimated under the previous Government.
“It is clear the Government chose to cut capital investment, and its potential to sustain and create jobs in the economy, and provide for longer-term growth, rather than get to grips with the imbalance that has developed between current spending and tax receipts.
“Despite loud protestations to the contrary, the mistakes of previous decades in terms of ignoring pressing infrastructure priorities have been repeated. The price will be felt in the short and longer term,” he said.
The CIF director general said that the potential for job creation through construction investment was reflected all political parties’ manifestos and now needs to be acted upon.
The CIF has sought the adoption of an increased annual energy retrofitting target through fiscal and financial supports aimed at significantly reducing Ireland’s carbon emissions and energy requirements, creating tens of thousands of jobs and generating substantial savings for householders and businesses.
