100,000 BUILDERS JOBS FACE THE CHOP; Chief's investment plea.Byline: JEANANNE CRAIG A FURTHER 100,000 jobs will be lost if the current building slump continues, construction chiefs warned yesterday. With 200,000 workers in the sector already unemployed, industry leaders called on the Government to invest in labour-intensive projects. A report by the Construction Industry Federation also claimed a EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6billion programme of roads, schools and public building work planned for next year may not be delivered on time. CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). director Tom Parlon Tom Parlon (Irish: Tomás Mac Phartaláin [1]; born 19 August, 1953) is an Irish Progressive Democrats politician and president of the party. said: "You need to plan it one year, start it the next year and complete it in the third. We're concerned as we don't see any evidence of those projects beginning this year." He added it was cheaper to go ahead with planned infrastructure projects than cancel them, with the average jobless construction worker costing EUR20,000 in social welfare. The builders' chief added: "It's about maintaining jobs now and in the medium-term. Ireland must be in the first wave of recovery in terms of the recession. "We accept absolutely that we went way over the mark in terms of the scale of construction activity but we've gone way below that mark now." The CIF report also recommends the scrapping of residential stamp duty Stamp Duty An ad-valorem or flat rate charged upon certain documents. Notes: This is an extra charge placed on documents. See also: Ad Valorem Tax Stamp duty Applies mainly to international equities. and the introduction of a time-limited tax credit scheme for first-time buyers. It also called for commercial property stamp duty to be cut from 6% to 4% and an employers' PRSI PRSI Pay Related Social Insurance PRSI Public Relations Society of India PRSI Programmable Random Signal Interconnect holiday to help firms hold on to workers. The report also urged the introduction of a national energy refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur scheme of grants and loans to improve public buildings and commercial and residential premises. The proposals were welcomed by Denis Denis, king of Portugal: see Diniz. Farrell, of the Building and Allied Trades' Union. He said: "The Department of Finance has decided unemployment is one of the solutions but there's a fear among many of those we represent that they will become long-term unemployed. "That is not the solution. This is an industry with a lot of skilled people." CAPTION(S): KEY Construction is vital to recovery FEARS CIF chief Tom Parlon action call |
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