BUDGET 2016: ‘Nama plan won’t solve housing crisis’

Developer Michael O’Flynn believes Nama’s €4.5bn 20,000 residential unit building programme announced in the budget won’t solve Ireland’s housing shortage.

Mr O’Flynn, who chairs the Cork-based O’Flynn Group, one of the country’s largest development firms, expressed disappointment the budget didn’t contain any measures to deal with the cost and viability of house building.

“I am disappointed that Vat and development charges, and even some of the regulatory cost issues, haven’t been addressed,” he said.