Dáil debates

Tuesday, 8 July 2008

3:00 pm

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)

I am not aware that the cross-departmental team has considered Deputy Hogan's proposals on these matters. Regarding the questions on the construction industry, I do not know what quote the Deputy referred to on 10 April, but the point I would make in that context is that it was clear the construction industry could not continue to constitute 12% of total output every year. We have had a correction that had to take place and is taking place. Unfortunately, the credit squeeze is undermining confidence and that is affecting the output one would have hoped for this year. Some of that is offset by the increased public capital programme the Government has conducted this year and last year. We will continue to see how we can assist in that matter with the hope that the construction industry and confidence in the residential housing market will return as soon as possible to more sustainable output levels, which is estimated at between 55,000 and 60,000 per year.

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