CEO Update: Better Housing, Better Business

The latest CEO Update to Ibec membership from Danny McCoy.

Dear member,

Ibec has published a major new housing report as part of our ongoing “Better Lives, Better Business” campaign which aims to make Ireland a better place to live, to work, and to invest.

“Better Housing, Better Business” (available to download below) outlines how the crisis in the availability of affordable housing in Ireland is becoming the critical barrier to the continued growth and development of business investment. An inadequate supply of affordable housing is the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible. 

The housing crisis has increasingly become a concern in relation to cohesion in the workplace and society more broadly. Younger workers, in particular, are financially pressed by ever-higher rents and the receding prospect of homeownership. This ultimately spills over into issues around well-being and productivity in the workplace, while in the longer-term, if left unchecked, will also create emerging challenges in terms of pension adequacy and people’s broader stake in society over the coming decades.

From an employer perspective, there is a need to reinvigorate the policy drive around the availability and affordability of housing in the context of these challenges. This will require a suite of measures to improve the viability and affordability of homebuilding, such as addressing emerging financing deficits, reform of the planning and procurement system to speed delivery, a ramping up of ambition in affordable and cost-rental housing, and significant investment in skills and modern methods of construction. From an affordability perspective, our proposed fiscal measures would reduce the cost of a typical €400,000 new home by €30,000 and this could be achieved with immediate effect.

The report has received extensive media coverage, including RTE, Irish Times, Irish Independent, Virgin Media, and interviews on Newstalk and The Last Word [interview from 00:43:50 mark], while you can download a copy of the report below.

Ibec will continue to extensively engage with Government and key political and societal stakeholders on how we can collectively deliver a suite of ambitious policies to speed up the delivery of much-needed housing, and improve viability and affordability.

As always, if you have any feedback please get in touch. It is always good to hear from you.

Regards,

Danny McCoy

CEO

Ibec