Union chiefs support proposal to fund building projects

Union bosses are throwing their support behind the construction industry's proposal to use private pension funds to build schools, roads and hospitals.

The CIF has been rallying support for the introduction of an "infrastructure bond" to help fund major capital projects.

It would involve investment from Irish pension funds and the private sector in a bond that would fund projects with a lifespan of 15 years or more.

ICTU's Fergus Whelan has said they have joined forces with the CIF because they are worried about the future of 70,000 jobs in the industry.