State to cover 70% of cost of construction inflation | Business Post

Michael McGrath, the Minister for Public Expenditure, said that the real risk would have been to make no changes to the fixed price contracts because it would have been difficult to get any contractors to bid for new projects in the National Development Plan. Picture: Sasko Lazarov/RollingNews.ie

The government is to pay 70 per cent of the cost of construction inflation and extend the 9 per cent VAT rate on the hospitality sector to next year. Michael McGrath, the Minister for Public Expenditure, has decided that the state will cover up to 70 per cent of the cost of construction inflation in recently signed public works contracts, with the contractors due to fund the remaining 30 per cent.Subscribe from just €1 for the first month!

obraonain The govt never pays anything, we, the tax payers do, they just arrange to take it from our pockets. This system ensures poverty is maintained and in conjunction with media attempts to enshrine it as an appropriate standard of living.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

State on track to outstrip EU targets on use of electronic ID | Business PostUp to 90 per cent of Irish citizens could be using MyGovID by 2030, beating Europe’s ‘digital decade’ target of 80 per cent of population, emmetjryan reports.
Source: businessposthq - 🏆 8. / 71 Read more »