Industry & Business

Guaranteed Irish Calls For VAT Reduction and Expansion of Incentive Schemes to Stimulate Construction Sector

 Breaking News
  • Microsoft’s New Irish Wind Energy Agreement The national body charged with helping Ireland to transition to a low-carbon economy has welcomed a new agreement by Microsoft to become one of the first multinational technology companies to support a new wind project in Ireland. Microsoft Corp. has announced a 15-year power purchase agreement (PPA) with GE to purchase 100 percent of the [...]...
  • Review of Energy Supplier Costs The Commission for Regulation of Utilities (CRU) has published its analysis on supplier costs in the electricity and gas retail markets in Ireland. This follows the review of how the energy retail market competition has evolved following full price deregulation of electricity and gas retail tariffs that was published in February 2017. CRU reviews the retail [...]...
  • Combilift Signs $1 Million Contract in Australia Combilift, the Irish manufacturer of multi-directional forklifts based in Monaghan, has signed a contract with Civmec, an Australian construction and engineering company that is worth an additional $1 million to the Irish company. Civmec is an integrated, multi-disciplined construction and engineering services provider to the oil and gas, metals and minerals, infrastructure and defence markets [...]...
  • Irish Women More Likely to Have a Third-level Qualification Than Men The Central Statistics Office has published ‘Women and Men in Ireland 2016′ which presents over 70 indicators that identify important gender differences in the activities of men and women and also presents the situation in Ireland in an international context. Statistician Helen Cahill comments: “More girls than boys sat higher level papers in the Leaving Certificate [...]...
  • The Future is FeMale An international study of global attitudes towards gender biases and roles has revealed that almost half of both men and women believe the world would be a better place if more women held positions of power. However, the study, carried out by Havas Creative in partnership with Market Probe International, revealed that globally, only 24% [...]...

Guaranteed Irish Calls For VAT Reduction and Expansion of Incentive Schemes to Stimulate Construction Sector

Guaranteed Irish Calls For VAT Reduction and Expansion of Incentive Schemes to Stimulate Construction Sector
October 10
12:57 2017

Guaranteed Irish has called for a reduction in VAT, the expansion of incentive schemes, and an overhaul of apprenticeships to stimulate the construction industry. The organisation has published recommendations on the steps needed to ensure sustainable construction in Ireland in future years. The recommendations were formulated at a roundtable event attended by Guaranteed Irish construction-industry members and sectoral stakeholders. Four over-arching themes emerged:

  1. Making construction and housing more affordable;
  2. Addressing the skills shortages in the construction industry;
  3. Stimulating the domestic construction market; and
  4. Reforming planning laws and regulations to make it easier to build.

In the publication, Guaranteed Irish calls for specific measures under each of these themes, including:

  • A reduction in VAT on houses to nine per cent.
  • Reform of the Development Contribution Rebate Scheme to open it up for developments with fewer than 50 houses and make it easier for smaller companies to access the finance they need to engage in construction activity.
  • A review of the apprenticeships scheme to offer shorter-term apprenticeships, and to make apprenticeships more attractive for both school-leavers and employers.  Guaranteed Irish is calling for a centralised applications system for those seeking apprenticeships and incentives for employers who take on apprentices.
  • Retention of the Help-to-Buy Scheme for first-time buyers and the Home Renovation Incentive, which has “provided a boon for the construction industry”.
  • Recommencement of major infrastructural projects that were put on hold during the recession.  According to Guaranteed Irish, with Brexit looming, the Government must stimulate the domestic construction market, so that construction companies become less reliant on exports to the UK.

Brid O’Connell, CEO of Guaranteed Irish, comments: “In recent months, we’ve consulted extensively with our construction-sector members.  These are resilient companies that withstood the recession, and are now well placed and eager to play their part in Ireland’s economic recovery.

“What they do not want is a return to the ‘boom and bust’ patterns of previous years. The recommendations we have developed in consultation with our members are about achieving sustainable growth and future-proofing our construction sector.

“Some of the recommendations acknowledge positive developments initiated by government, such as the Help-to-Buy Scheme and the Home Renovation Incentive.  In this week’s Budget, we hope to see these retained.

“Other recommendations arise from our members’ on-the-ground experiences.  Affordability is a huge stumbling block in the construction sector, both for builders and manufacturers and for the end customer.

“One of the most effective and immediate ways to reduce costs would be a reduction in VAT on house prices to nine per cent.  The Government has been steadfastly refusing to take this recommendation on board, but they need to listen to industry experts.  Any decrease in Exchequer earnings as a result would be offset by increased activity in the housing market.  We need bold measures like this to really address the challenges currently facing the construction industry.”

The recommendations published by Guaranteed Irish are available on the organisation’s website,www.guaranteedirish.ie.

Guaranteed Irish has over 300 members nationwide, including leading construction-industry suppliers, such as CRH, Tegral, Wavin, Kingspan, Combilift, Celuplast, Dulux, Fleetwood, Kilsaran and Camfil.

About Author

admin

admin

Related Articles






New Subscriber





Subscribe Here



Advertisements
































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4