VAT may be cut on building work in next week's Budget

VAT may be cut on building work in next week's Budget

Finance Minister Michael Noonan is reportedly planning a new construction stimulus package in next week’s budget.

The move would not only provide much-needed employment but also provide much-needed family homes in the key urban areas.

The Irish Independent has reported that a VAT cut for construction work could be on the cards, with “serious consideration” being given to scaling back the 80% land rezoning tax introduced by former Green Party leader John Gormley.

It is also reported that more grants will be made available to make homes more energy efficient.

Mr Noonan would like to see the number of houses built nationally to increase from an estimated record low of 8,000 this year to somewhere between 25,000 and 35,000.

Any such move would also tackle the unemployment rate, with one in four people on the dole listed as construction works.

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