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.

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