Construction industry warns of 20,000 job losses

The Construction Industry Federation has predicted that 20,000 building workers will lose their jobs in the coming year unless the Government helps the sector.

The construction industry, the largest sector in Ireland, is currently worth £15bn per annum to the Irish economy, representing 20% of Gross National Product.

It employs an estimated 250,000 people and contributes £4bn to the Exchequer each year.

The President of the Master Builders and Contractors Association, Ian Hagan, has called for a radical change in Government policy regarding construction.

Mr Hagan said the construction industry is not immune from the economic fallout from the September attacks on the US and called on the Government to maintain investment and employment to help the industry survive.

He said that government policies to date on issues like housing strategies, taxation and planning have undermined confidence in the building trade and have caused investors to seek more favourable opportunities overseas.