Budget 2016 does not go far enough for the construction sector, the Director General of the Construction Industry Federation (CIF) has claimed.

Mr Tom Parlon said that while there were a number of positives there were no proposals to address the issue of costs of providing new homes.

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Mr Parlon said: "While we welcome the provisions that NAMA can provide 20,000 houses between now and 2020, this will only deliver to 4,000 units per annum, which equates to only 25% of broadly acknowledged annual national demand. There are no proposals to address the issue of costs of providing new homes, the availability of affordable development finance, or the availability of mortgages. We are concerned that this may be a lost opportunity to support the construction of much needed additional homes to meet sustainable demand."

(CD/LM)