Housing starts ‘could plummet’

THE number of houses built next year could drop dramatically to as low as 45,000, almost half last year’s figure of 88,000, the Construction Industry Federation has warned.

That level of slowdown has serious implications for the Government’s finances, and with the economy slowing generally this year, the tax take will be down by about e1 billion, economists have warned.

If the economy continues to slow as the euro hits record highs against the dollar, the outlook for the economy looks bleak, warned Alan McQuaid, chief economist at Bloxham Stockbrokers.