Mortgage rules hit recovery, says Construction Industry Federation

The construction sector in Ireland has the potential to double in size and create 25,000 extra jobs in the next few years, according to the Construction Industry Federation (CIF).

However, high Vat rates, restrictive Central Bank rules on mortgages and a slow start to some of the projects outlined in the Government’s latest public capital programme are having negative effects, the CIF’s annual conference heard yesterday.

Speaking at the conference being held in Croke Park, the CIF’s director general, Tom Parlon, called on the Government to prioritise the industry in the budget and ensure that the gains made in construction are sustained.