Paschal Donohoe said such tax reliefs harmed housing delivery in Ireland for many years.

Developer Hugh Kavanagh says a failure of his former business partner and brother Greg Kavanagh to comply with a settlement agreement which saw them go their separate ways has led to a repossession application for his family home

Developers in cities could save thousands of euro as the tax they pay to local authorities will be waived for a period of time, potentially up to three years.=

Husband and wife property developers Kevin Brophy (72) and Jacinta Rochford (67) together owed more than €10.8 million and Mr Brophy had further unpaid loans of some €2.9 million