Construction firms threaten to down tools on roads and housing schemes

Companies cite ‘hyperinflation’ of steel and timber costs as reason why the works are no longer viable, and say prices are soaring in wake of Russia’s invasion of Ukraine

Tom Parlon, chief executive, Construction Industry Federation: ‘I have never seen such uncertainty and such fear amongst the players in the industry.’

Construction firms are threatening to pull out of state housing schemes and road projects which are central to the government’s plans, the Business Post has learned.

The companies have warned that “hyperinflation” means the works are no longer viable and that they cannot afford to deliver them, as the costs of steel, timber, diesel and other materials have soared in price. The projects involved are key to the delivery of both Housing For All and ...