MY BUDGET BUILDER:ALTHOUGH THERE were some positives to be taken from the Budget, construction firm owner Matt Gallagher was disappointed that the initiatives announced did not go far enough.
Minister for Finance Brian Lenihan announced yesterday that €20 million would be allocated for the home energy savings scheme in 2009 and a further €5 million would be provided for the warmer homes scheme.
"To my mind it was not really a huge amount of money," Gallagher said. "I think that to really get serious about insulating our homes and reducing our carbon footprint, we have to be spending more money than that.
"The thrust of what he's doing is welcomed but I don't think he's put enough resources into it," he continued. "I know that resources are tight at the moment but it would be a very labour intensive kind of business and he would get money back in . . . VAT on the work."
However, the confirmation of investment in areas such as water services and school building projects was music to his ears.
There was more good news in the form of a cut in the top rate of stamp duty rates on commercial property from 9 per cent to 6 per cent and increased mortgage interest relief for first-time buyers.
Gallagher said he was keen to find out the full details of the new Government equity initiative, which the Minister indicated would assist people looking for affordable housing.
However he was critical of the reduction in the relief available for pension contributions.