Property interests put their case to the Government
Tis the season for writing lists, but they aren’t all destined for the North Pole. In the run up to another dreaded austerity Budget in early December vested interests are petitioning the Government at a fierce rate.
In a bid to get the Government spending on its public infrastructure capital programme an amalgam of industry partners from the construction sector has published a report detailing the benefits of such a move – not least the projected creation of 70,000 jobs.
The Construction Industry Council (CIC) says that infrastructure expenditure is 14 per cent behind projected spend in the Public Capital Programme, and it’s calling for the urgent implementation of alternative funding solutions, especially the participation of pension funds in large-scale infrastructural investment.
The council, comprised of representative bodies for chartered surveyors, engineers, architects and construction, is led by CIC chairman and chartered surveyor, Derry Scully. It is advocating the immediate creation of one job to start with, that of a chief construction adviser – reporting directly to a Government minister – to oversee the strategic direction of the construction sector.
Meanwhile IPAV, which represents auctioneers and valuers, has joined the call on the Government to extend the December 31st mortgage interest relief deadline for house buyers, and it is also calling for the imposition of mandatory lending targets on the pillar banks for residential mortgages. It added that the non-availability of mortgages on reasonable terms remains the biggest obstacle to rekindling the market.