Reductions in income tax and corporation tax rates would be a boost for house purchasers and builders, the Irish Home Builders Association said in a statement yesterday. Mr Michael Goggins, director of the association, said in particular the extension of the Seaside Resort Scheme was welcome.
However, he added that he was disappointed that development land had been excluded from the reduction in capital gains tax from 40 per cent to 20 per cent. "This could exacerbate the already acute scarcity of suitable house-building land. The association views this scarcity of the industry's basic raw material as the greatest impediment to the continued orderly supply of affordable housing to a market which continues to display very healthy demand."