Read the SCSI’s pre-budget submission to find out top recommendations for supporting the property, land and construction sector.
Key SCSI Pre-Budget Submission Recommendations
Housing
- Further actions to address increased construction costs within the control of Government
- Longer-term announcement required regarding the lifetime of the Help to Buy Scheme to bring more clarity to the residential development sector
- Continuation of the First Home Scheme Ireland
- Establishment of a special department within the Residential Tenancies Board (RTB) that solely oversees and manages the dispute and adjudication process
- Adequate budget should be provided to increase auditing of the rental market to ensure overall rental compliance and address short-term lets without the necessary permissions
- Introduce a feasibility grant to ensure best allocation of funding and approach for the full renovation of units and payments to be made available earlier in tranche payments
- Further consideration should be given to the development of an overall budgeting account and dedicated department to tackle biodiversity loss and climate change
- Steps be taken to resolve challenges associated with connection delays promptly, ensuring a more efficient and streamlined process for utility connections
- Further financial resources to be made available to attract, retain and upskill staff to local authorities for the delivery of social housing projects
- Financially support the establishment of a national authority to regulate owners’ management companies (OMCs)
- Increased funding allocated for retrofit training to successfully cultivate a workforce that is capable of successfully overseeing and executing retrofitting projects
- Implementation of a rebate that lowers the Capital Gains Tax (CGT) rate to 8% specifically for development land utilised in the construction of new housing
- Allocate funding to train local authorities on social housing delivery.
Commercial
- No further increases in Stamp Duty for non-residential properties
- Fund the adoption of a land price register to promote transparency, support evidence-based decision-making, and ensure fairness in land transactions and policy development