Thursday, May 10, 2012

Levy on construction industry would be fairest resolution of pyrite problem

Fine Gael TD for Meath East, Regina Doherty, has called for the introduction of a mandatory multi-annual levy on the construction industry to cover the cost of repairing pyrite affected homes. Pyrite is a building material which has caused significant damage to homes.

Pyrite has been used in the construction of an estimated 20,000 houses in north Dublin, Meath and Kildare and has left homeowners facing massive bills for problems such as cracked walls and floors.
“With the pyrite panel due to report imminently, affected homeowners are extremely keen to know who will pay for the repair of these homes.

“I don’t believe it is fair that the individual homeowners should have to pay for the significant bills to fix their homes, given that they bought their houses in good faith. Nor do I believe that the taxpayer should pay for it. I think the fairest solution is that a mandatory multi-annual levy be imposed on the construction industry in order to recoup the costs that will be incurred in repairing these homes.

“The repair of these people’s homes is a major priority and I hope the report of the pyrite panel will kickstart this process. I believe the construction industry should welcome this process in that it will provide much needed employment to the sector. It will also give the value back to this large swathe of our housing stock which is currently highly compromised.

“I have been contacted by numerous homeowners who are experiencing serious defects within their homes and am acutely aware of the impact that this issue has had on people. These people, many of whom bought their houses during the peak of the property boom, have had to endure the nightmare scenario of their homes being destroyed in front of their eyes.

“I believe that it would be fundamentally wrong for the homeowners to have to pay for the repairs and it would be wrong to foist the charge on Irish taxpayers who have already had to fund payments to bondholders of our banking institutions.”

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