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02/09/2008
End Stamp Duties Too: CIF
An Influential Irish construction group has said the UK's recent stamp duty changes could 'save' Ireland's housing market if implemented here.
The Construction Industry Federation (CIF) has claimed the plan to save the housing market in the UK, where the British Government has announced plans to abolish stamp duty on houses costing less than £175,000, should be adopted by the Irish Government too.
The CIF has also advocated the policy of allowing homeowners to sell part or all of their property and rent it back, allowing them to rescue their properties from the threat of repossession as the credit crunch's jaws tighten.
Director General of the Federation, Tom Parlon, said he is in talks with the Government on how to restore confidence in the market.
'There's a lack of confidence among first-time buyers so me must rebuild that.
'It's not just about supporting homebuilders-the economy is losing out very badly as a result of the slowdown in housing construction," he said.
See: Chancellor Announces Stamp Duty Exemption
(DW)
The Construction Industry Federation (CIF) has claimed the plan to save the housing market in the UK, where the British Government has announced plans to abolish stamp duty on houses costing less than £175,000, should be adopted by the Irish Government too.
The CIF has also advocated the policy of allowing homeowners to sell part or all of their property and rent it back, allowing them to rescue their properties from the threat of repossession as the credit crunch's jaws tighten.
Director General of the Federation, Tom Parlon, said he is in talks with the Government on how to restore confidence in the market.
'There's a lack of confidence among first-time buyers so me must rebuild that.
'It's not just about supporting homebuilders-the economy is losing out very badly as a result of the slowdown in housing construction," he said.
See: Chancellor Announces Stamp Duty Exemption
(DW)
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Ireland WeatherToday:Scattered showers of rain, sleet and, over hills, snow in the morning with sunny spells, the best of these in the south. The showers dying out this afternoon with increasing amounts of sunshine. Occasionally fresh westerly or northwesterly winds easing. Maximum temperature 6 °C.Tonight:Clear start with a fairly widespread frost developing. Increasing cloud brings occasionally heavy rain overnight, preceded, especially over western hills, briefly by snow. Occasional southeasterly gales, severe near coasts, developing. Minimum temperature -2 °C.
