It aims to triple the number of homes built - from 8,000 last year, to 25 thousand by 2016.

It also hopes to create 60 thousand construction jobs in the process.

The proposal will be brought to a special Cabinet meeting on Thursday.

It involves a reduction on development levies, a fast-track to changing planning permission and a new tax on zoned sites which are lying idle.

Economist Jim Power says a stronger construction sector is vital to a stable economy and job creation.

Meanwhile, the Housing Minister is being asked to help residents of a city centre apartment complex after building defects were discovered.

The problems at Gallery Quay beside Grand Canal Square were high-lighted after the recent spell of bad weather.

It's understood residents have complained that rainwater is continually dripping in through windows causing extreme dampness.

And it's reported one family has had to move out after their home was deemed unfit to live in.