The Budget will set the foundations for a recovery in the construction sector and will lead to thousands of jobs being created, according to the Construction Industry Federation (CIF).
The Government announced several measures aimed at boosting the construction sector and removing some of the unemployed construction workers from the Live Register.
Among the measures announced for the construction sector were:
• A stimulus package of €200m for capital projects from the lottery license funding including road maintenance, sports capital grants and an international training arena, an events' centre for Cork, housing adaptation grants and other measures
• €30m for State house building programme
• €10m for unfinished housing estate initiatives
• Further round of capital investments to be announced next year
• Home renovation tax incentive scheme
• An extension of the Living City initiative to Cork, Galway, Kilkenny and Dublin and will extend it to all buildings built before 1915
• Extending capital gains tax incentives to end of 2014
• Extending REIT investments
• NAMA may extend additional working capital to the construction sector. This will include the creation of housing and commercial office space in Dublin.
• Measures to curtail the shadow economy
• Start your own business initiative.
At present, the construction sector accounts for one in four of the people on the dole. According to the Government's own figures, since the downturn began, 60% of the jobs lost have been construction related.
Speaking about the Budget, the CIF believes the measures announced will offer hope to construction workers and construction companies around the country.
"Our main argument to the Government has been that the construction sector offers the best opportunity to create a lot of jobs quickly," said CIF Director General Tom Parlon. "The Government has been taking that point on board and they have proven that today by bringing forward a number of measures which will boost our industry and through what Minister Noonan had to say in his Budget speech.
"Our sector is on the verge of a recovery and this will help accelerate that process. We've already seen that construction employment jumped by 6,400 between Q1 and Q2 of this year. I would expect to see further growth with thousands of construction jobs being created on the back of the steps taken by the Government today. We will also see further activity for the many construction companies who have been able to keep going through this difficult period for our industry.
"The Government deserves credit for bringing forward these measures and for realising the importance of encouraging growth in the construction sector. Our sector wants to play its part in the recovery of the economy. The initiatives in the Budget will help us to start making a larger, sustainable contribution to this country's economic growth."
Time and date
Electric Ireland is to reduce its prices for customers by 6 per cent from 01 June. The reduction will benefit Electric Ireland's residential electricity customers with a saving of 5.2 per cent every year on an average customer bill. Jim Dollard, Executive Director, Electric Ireland said: "This i
A €360,000 community fund for Eirgrid's Mullingar Reinforcement electricity project has launched. The project is a 25km, 110 kV transmission line running between Mullingar, County Westmeath and Killaskillen, County Meath. It will be administered by The Community Foundation for Ireland, a not-for-p
The approval of planning permission to develop a new children's hospital in Dublin has been welcomed by Sinn Féin. Aengus Ó Snodaigh TD said the new National Children's Hospital on the St. James Hospital campus is "a great day for children's medical care". He said: "However considering this area i
Construction work is to start to amalgamate three terraced buildings in Cork into a retail development, Savills has announced. The buildings, at 83-35 Patrick Street, will be retained, however they will be improved. Davy Real Estate secured the planning permission for improvement work to be carrie
The Green Party is calling on the Irish Strategic Investment Fund (ISIF) to divest Irish taxpayers' money from climate damaging and polluting projects overseas. The party made the call following a controversial majority decision to establish a Partnership with the National Treasury Management Agenc
The huge number of unaffordable mortgages will pose a major challenge to any future government, according to Sinn Féin. TD Kathleen Funchion has called for any future government to prioritise the expansion of the mortgage to rent process to avoid more people getting into arrears. Deputy Funchion s
Fianna Fail and Fine Gael will soon receive Sinn Féin's terms of reference for a commission to establish the best public ownership model to replace Irish Water. TD David Cullinane said it is vitally important that any new body established to replace Irish Water has the full confidence of the public
A commemorative event was held in Dublin on Thursday, 29 April, to remember the people killed and injured through workplace accidents, to mark Workers Memorial Day Ireland. The memorial ceremony took place at the Royal Hibernian Academy and attended by the Government, the Irish Congress of Trade Un
An Bord Pleanála has granted planning permission to develop a new children's hospital in Dublin. Minister for Children and Youth Affairs, James Reilly, welcomed the news and said it was a "great day for all the children of Ireland". He said: "The announcement means that we can look forward to worl
Work to improve the sewer network in Kinvara, Co Galway, has started. Irish Water has teamed up with Galway County Council to end the discharge of water into the sea. As soon as the works are complete all the raw sewage in the town will be collected and directed to the new wastewater treatment pla