Building sector ‘will lose 55,000 jobs in 2009’

THE Construction Industry Federation claims 55,000 jobs will be lost within six months unless Government reinvigorates capital infrastructure plans and banks start issuing mortgages.

The CIF said construction was probably the only sector at present that can create jobs and contribute in terms of Government revenues.

“If you take the unsold units on the housing market there is €1 billion tied up in VAT,” said CIF director Martin Whelan.