Chambers Ireland calls for more funding for new housing as housing costs drive up wage demands

Chambers Ireland has called on the Government to address “three interlocking challenges” facing businesses in Ireland in next year’s budget – housing, energy and skills.

The lobby group has called for investment in neglected city centers, saying the government must increase funding for the delivery of houses to meet the National Development Plan targets.

In addition, the government should accelerate large-scale, nationwide retrofits to help households cope with rising energy bills. The business lobby is also urging the government to change tax incentives to now make it unprofitable to leave vacant properties idle in order to increase housing supply.

Housing shortage is a critical issue for companies. The ever-increasing cost of housing is driving up wage demands. The cost of housing policy failures over the past decade is being passed on to employers,” said CEO Ian Talbot.

Skills and talent are also a growing concern for businesses in Ireland as the high cost of living makes the country less attractive to foreign workers.

The group added that those who may have been expected to emigrate to Ireland for roles will now be active in Ukraine’s post-war reconstruction. As a result, Irish companies are having to seek workers from further afield, according to Chambers Ireland, who are now calling on the government to reform labor migration processes to smooth routes to work.

According to the interest group, labor law must also be reviewed. The group is also looking for expanded resources for education and training, as well as greater support for caregivers.

“This lack of available staff is undermining a number of existing foreign direct investment (FDI) projects. Without a credible talent pipeline, local leaders are challenged by international headquarters on the feasibility of proposed projects,” said Mr. Talbot.

According to Chambrrs Ireland, the energy infrastructure in Ireland was “too close to capacity”. It added that the lack of investment has created a vulnerability that would discourage foreign direct investment.

The group called on the government to invest more in renewable energy prices, install hybrid connectors at sites of existing thermal power plants, and introduce a small solar photovoltaic supply as a source of microgeneration.

Finally, it said the marine regulator should become an IDA for the offshore energy industry, as well as a “one-stop-shop facilitator” of the green transition.

Talbot added that natural gas supplies from the UK were increasingly at political risk as there was no firm plan should supplies to Ireland be restricted.

“Many of the problems we are witnessing stem from the decade of underinvestment that plagued the economy in the aftermath of the Great Financial Crash. Providing the necessary infrastructure solutions in times of rising costs will be a major challenge, but also essential for our future prosperity,” he concluded.

Chambers Ireland, which has 40 member chambers, is made up of local business representatives across the island of Ireland.

The lobby group has a network of chambers of commerce in all major cities and regions of the country. Chambers Ireland calls for more funding for new housing as housing costs drive up wage demands

Fry Electronics Team

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