Building firms accept 7.5% pay cut

CONSTRUCTION employers have voted to accept a 7.5% cut in the minimum rates for the industry as recommended by the Labour Court at the start of July.

The Construction Industry Federation had been lobbying the court for as much as a 20% reduction in the legally binding rates which are set under a Registered Employment Agreement (REA) for the sector.

It had argued that such a percentage drop could help restore some of the 200,000 jobs lost in the industry over the last two years.