Housing sector

Limerick Chamber calls for housing sector reforms in 2023 budget

LIMERICK Chamber has urged the government to put housing sector reforms at the heart of its budget.

Pascal Donohoe will announce his estimates for 2023 on September 27, and the Mid-West region’s largest group of business representatives also said it was essential for ministers to think ‘strategically’ about how to sustain growth regionally balanced across Ireland.

In its pre-budget submission, the House urged the government to dramatically increase spending on affordable housing in urban areas, while using the system of rebates and levies to incentivize the completion of higher-density developments.

According to them, competition between the state and the potential owner – as is often the case with the purchase of social housing – should be reduced.

Investments should be made in the tribunal so that it can rule quickly on all planning decisions that come before it, the House said.

Limerick Chamber says the Living City scheme, which offers tax breaks to developers renovating old Georgian buildings, needs to be boosted, while the business group has also issued a sobering warning about the number of private tenants currently — and the impact he might have on them in the old age.

They pointed out that only 27% of 25-24 year olds own their homes, down from 60% in 2004.

“Limerick Chamber is concerned about what will happen to this cohort when they reach retirement age, as the cost of renting on the private market is likely to be too high for a person’s pension, if they have one. “, says his memoir.

On travel, the Chamber wants to see the new BusConnects project, which will revolutionize public transport in Limerick, put on the fast track.

And the 2023 budget must “aggressively” target backlogs in health systems and emergencies.

“By 2045, it is expected that the Central West region will have the oldest age profile, along with the West, under the proposed new health regions. This only underlines the need to invest in improving the standard of living of this age group. The health sector‘s current resources in terms of personnel and facilities are likely to be stretched over the next decade if adequate investments are not made now,” the group said.

House Chief Executive Dee Ryan warned: “Without an adequate government response targeted at vulnerable households and vulnerable businesses, we face closures and potential job losses in 2023. This will have its in turn impacting our town centers and city centers as consumer-facing businesses take the brunt of declining consumer confidence.

Chamber economist Sean Golden added: ‘The lack of affordable housing figured prominently in consultations with business. We are experiencing an acute shortage of affordable homes to buy and rent with just 61 homes at an average cost of €1,600 per month, on the rental market for the whole of Limerick in August.

“The challenge for the government in Budget 2023 is to balance efforts to address the current cost of living and cost of doing business crisis, while also focusing on the long-term challenges facing our country is facing,” he added.