News Formal

Private money essential to secure supply of new homes, Department tells Minister for Finance

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 98%

Corporation Tax News

Canada Canada Latest News,Canada Canada Headlines

Close to €20 billion a year needed if we are to build 50,000 homes annually, officials told Jack Chambers on his appointment

Department of Finance officials briefed incoming Minister for Finance, Jack Chambers, on the housing supply challenge and concerns about corporation tax. Photograph: Sam Boal/Collins Photos

The Department of Finance estimates that development funding of about €13.6 billion per year is needed to meet the target of 33,000 homes set out in the Government’s “Housing for All ” strategy. “In a scenario analysis of 50,000 units annually, the Department estimates that it would require investment capital of closer to €20 billion each year.

“The forward funding model used by many developers means that without this investment – this supply of new homes would simply not be built.” The Department also expresses scepticism about the merit of reducing VAT in a bid to lower house prices.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PTSB poaches senior banking official from Department of FinanceFormer banking analyst Scott Rankin said to be on gardening leave but expected to join bank, which is 57% State-owned
Source: IrishTimes - 🏆 3. / 98 Read more »

TV licence fee direct payment is of ‘central importance’, says Minister for Finance Jack ChambersThe newly appointed minister warns he will be ‘well able to say no in the national interest’ ahead of Budget talks
Source: IrishTimes - 🏆 3. / 98 Read more »

TV licence fee direct payment is of ‘central importance’, says Minister for Finance Jack ChambersThe newly appointed minister warns he will be ‘well able to say no in the national interest’ ahead of Budget talks
Source: IrishTimes - 🏆 3. / 98 Read more »

Jack Chambers becomes youngest Minister for Finance since Michael Collins in 1919Tánaiste says 33-year-old’s experience is ‘already well beyond that of many who have held post in the past’
Source: IrishTimes - 🏆 3. / 98 Read more »

Jack Chambers: what to expect from the youngest Finance Minister since Michael CollinsInside Business podcast with Ciarán Hancock
Source: IrishTimes - 🏆 3. / 98 Read more »

New Minister for Finance to be formally appointed in DáilThe new Minister of Finance Jack Chambers will be formally appointed this afternoon.
Source: rtenews - 🏆 1. / 99 Read more »