Tax breaks for builders ‘make no sense’

TAX breaks for the construction industry make no sense when the economy is thriving and their continued existence is down to lobbying in tents at the Galway Races, according to a leading economist.

The tax concessions granted to builders and investors actually cause house prices to rise, and are not needed when there is full employment, said Trinity College Dublin economics lecturer Dr Seán Barrett.

“Pumping up the construction industry makes no sense. This has less to do with economics than going into a tent at the Galway Races,” he said.