Tax breaks should stay, says CIF

THE Construction Industry Federation (CIF) believes property developer Owen O’Callaghan is wrong to call for an end to tax incentives for property developers.

Mr O’Callaghan, one of the country’s biggest developers, disclosed yesterday that the €320 million development of the Mahon Point shopping complex has not benefited from any tax incentives.

Commenting on the current review of property tax breaks instigated by Finance Minister Brian Cowen, Mr O’Callaghan said yesterday on RTÉ’s Morning Ireland that tax breaks have done their job and it was time they were scrapped.