Builders look to NAMA lifeline
NAMA has the potential to reinvigorate the property market by providing capital while banks fail to lend, the Construction Industry Federation has outlined.
The federation's president, Matt Gallagher, said NAMA's involvement "can support the restoration of a properly functioning property market by providing adequate working capital and finance into the sector."
Mr Gallagher said that the Government desperately needs to "get to grips with Ireland's unsustainable current spending levels" and that "productive investments" in the economy need to be prioritised.
The CIF also wants to see a reform of local government funding, "urgent reform" of wage-setting mechanisms in the construction sector, and a reversal of planned cuts to the Public Capital Programme for the next three years. He said that if the Government needed to look at areas that will "provide employment in the short-term and pave the way for future growth".
The CIF is hosting a four-part seminar series in Dublin's Conrad Hotel, which has also featured addresses from NAMA managing director Brendan McDonagh and John Sisk & Sons managing director, Tom Costello.
Mr Costello said that the establishment of a National Infrastructure Authority is needed and that there should be a "single point of responsibility, in Government, for construction".