Levy to raise up to €2.8bn for remediation costs on Celtic Tiger-era buildings should be considered

With average remediation costs of more than €25,000 and just 10% of apartments having been repaired, the bill could come in anywhere between €1.7bn and €2.8bn

The report of the working group on defects in boom-era buildings has found a levy on the construction industry would 'require careful policy, legal and public scrutiny'.

A levy to raise billions of euro in remediation costs on Celtic Tiger-era buildings should be considered similar to the banking and insurance levies, but can not be retrospective, a new report has found.

With a looming bill of up to €2.8bn for remediation, a levy on the construction industry had been touted as a source of funding.