10,000 new houses would bring 25,000 more jobs: Parlon

The economy could get a huge boost if 10,000 more houses are built a year, according to the Construction Industry Federation.

Director general of the CIF Tom Parlon said 10,000 more houses would employ an extra 25,000 people and would help to meet the high demand for property around the country.

It is one of the measures suggested in their pre-budget submission, which also calls for a temporary reduction in the VAT rate to help the industry.

Tom Parlon said: "Increased building activity gives an increased Exchequer boost and a very substantial increase in employment," he said. "An extra 10,000 houses would give an additional 25,000 jobs which would be a major boost.

"10,000 houses would give well in excess of €1bn to the Exchequer."