CIF calls for mortgage targets and 'property-tax holidays'

on 30/10/2012 08:20:37

The Construction Industry Federation (CIF) is pressing the Government to bring in mortgage targets for banks each year.

In its pre-budget submission, the group also suggests that VAT on construction services should be cut from 13.5% to 9%.

The CIF is also asking for a "property-tax holiday" of up to 10 years for anyone who buys a newly-built house or apartment.

Director general of the CIF Tom Parlon said its range of measures would get builders working again.

"All of our suggestions are about job creation, job retention and trying to develop the economy," he said.

"Construction was almost a quarter of the economy in 2006. Now it's down to about 5% - it has fallen way too low."