CIF OPTIMISTIC ON INSULATION SCHEME - Yesterday the Government announced €100m worth of insulation grants to spend this year to make homes warmer. The optimistic news is that 4,000 could be employed putting the insulation in. The news has been welcomed by the Construction Industry Federation.
CIF director general Tom Parlon said it made good sense to insulate homes and reduce heating bills, and there was now a substantial incentive to do this.
Mr Parlon said the CIF would set up a register of contractors, and was also planning a one-stop shop - where one contractor would do the whole job from start to finish. The CIF is also promising a contract for householders and a quality guarantee, in association with Sustainable Energy Ireland.
He said the measure would also help a large number of Irish producers of insulation products. Mr Parlon said the €100m cost of the grant scheme this year would actually generate €200m for the Exchequer through VAT and other taxes. The CIF chief said he believed the scheme would be oversubscribed very quickly.
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14% DROP IN BARCLAYS PROFITS - British banking giant Barclays has reported a 14% fall in annual profits after what it called an 'extraordinarily challenging' period for the financial sector. The 2008 haul of £6.08 billion included £5.4 billion of charges related to impaired loans.
