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Charles Gallagher, executive chairman of Abbey PLC Picture: Maura Hickey

We are ready to build but the numbers don’t add up, housebuilding firm insists

Abbey, the housebuilding firm majority owned by the Gallagher family, wants to get back to building as many as 400 houses a year in Ireland, but believes that properties are too cheap and costs are too high right now.

According to Charles Gallagher, the company’s executive chairman, the government can help with that in the next budget. “I would be very pleased if they reduced the rate of Vat on housing from 13 per cent, and...

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