Concrete levy likely to be adjusted
Management at Mannok are breathing a sigh of relief this week as the Government has signalled that a proposed concrete levy will be postponed or adjusted.
The company’s chief financial officer, Dara O’Reilly, spoke to the Celt about the issue on a visit to St Patrick’s College last Friday. He admitted that the company was concerned about the impact of the proposed levy on its cement manufacturing business and also its customers.
“The concrete levy is something that hasn’t been fully formalised at this stage so it’s very difficult for us to assess the impact that would have in its final form on business,” said Mr O’Reilly.
“Not alone would it affect us as a business that manufactures concrete products but it would also affect a number of our customers as well if it came into play,” he continued.
Mr O’Reilly was hopeful job losses could be avoided if the levy is brought in. “At this stage we don’t see it having an impact on jobs within the business but obviously we’d have to assess the full impact of it if it is brought into legislation,” he clarified. The businessman believes any such levy would have a significant impact on export trade. “Something that they’d really have to take into account is the impact that could potentially have on exporting businesses from Ireland.”
The 10% per cent concrete levy charge was announced by the government in Budget 2023 to help fund a multibillion-euro redress scheme to rebuild homes, which used substandard blocks containing mica. However, the decision attracted immediate backlash from those in the construction industry and back benchers who deemed the decision counterproductive during one of the worst housing crises Ireland has seen in decades. Minister for Finance Paschal Donohoe is due to announce further details on the plan when the finance Bill is published tomorrow (Thursday).
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