Cork mayor calls on Government to cut Vat to zero ‘to solve chronic housing shortage’

Introducing a zero Vat rate on new home builds would help solve the country’s chronic housing shortage and support economic development, according to the lord mayor of Cork.

The measure would reduce the cost of construction, which has been repeatedly cited as being too high, and make it viable for development to begin in areas in dire need of housing.

Fine Gael councillor Des Cahill called for the introduction of the 0% rate for three years at a Housing Action Plan workshop this week.