RISE IN HOUSE BUILDING BUT FIGURES STILL BELOW TARGET – The Irish Independent reports that the number of houses built in 2014 was the highest in eight years but is still far short of what the market requires.
A total of 11,016 units were completed in 2014, an increase of 2,715, or 32pc, on 2013.
But this is far short of the 16,000 units the Housing Agency says are required each year.
Almost half of the units completed were one-off homes, which will also put pressure on supply as they are unlikely to be offered to the market and will not help first-time buyers get on to the property ladder.
There are serious concerns that lack of finance is hampering attempts to increase supply.
The Housing Agency, which advises the Government, says almost 80,000 units are required up to 2018. Based on current supply this figure is unlikely to be met.
Figures from the Department of the Environment also show that just 2,994 homes were built in Dublin where demand is highest.
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LOTTERY FIRM MODIFY’S NEW SOFTWARE AFTER COMPLAINTS - The National Lottery operator has modified the software on its new ticket terminals following complaints from retailers, according to The Irish Times.
The franchise also said it would take a further six weeks to enable the in-store ticket checkers to interface with the new terminals.
Currently, the ticket checkers only work for lotto tickets purchased under the former system which was replaced in early December as part of an agreed systems upgrade. This has placed an extra burden on retail staff, causing delays at peak times.
Retailers say technical glitches with the new ticket terminals, supplied by Greek gaming firm Intralot, has disrupted trade.
In particular, they complain the camera in the machines, which is used to scan tickets, is prone to freezing, forcing retail staff to reboot the ticket terminals.
Operator Premier Lotteries Ireland acknowledged it had identified delays in response times on some terminals but has since installed a modification to the software to address the problem.
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PETER CLINCH APPOINTED TO COMPETITIVENESS COUNCIL – The Irish Examiner reports that Peter Clinch, one-time advisor to former Taoiseach Brian Cowen has been appointed chair of the National Competitiveness Council.
He replaces Don Thornhill who recently retired. Mr Clinch is the Jean Monnet Professor of Economic Integration at UCD.
Minister for Jobs and Enterprise, Richard Bruton, said Professor Clinch will have a new “focus on productivity as well as competitiveness and to propose solutions to specific competitiveness issues that impact on business”.
Mr Bruton has also appointed Martin Shanahan, CEO of IDA Ireland, to the council along with Micheál Collins, who is a senior research officer with the Nevin Economic Research Institute, and Kevin Callinan, deputy general secretary, Impact as the two nominees of ICTU to replace two previous nominees, Paul Sweeney and Shay Cody, of Congress whose terms have come to an end.
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BRITISH MPs DEMAND HALT TO FRACKING – The Financial Times reports that an influential group of British MPs will call for a moratorium on fracking as opposition hardens in Scotland to the controversial drilling technology.
Several Tory and Liberal Democrat MPs are expected to rebel in the Commons as the coalition tries to push through legislation to help the industry, highlighting the strengthening political headwinds affecting the sector.
Opposition to fracking will be laid out by MPs on the Commons environmental audit committee, who will call for a moratorium on new licences and accuse the government of rushing through “undemocratic” laws to help the sector.
Meanwhile, both the Scottish National Party, the governing party at Holyrood, and Jim Murphy, the new leader of the Scottish Labour party, yesterday promised tough new conditions on fracking north of the border.
