Spokesperson Niall Collins said it is a "tall order given its woeful track record to date in terms of housing construction".
The targets are part of the government's National Development Plan (NDP).
Deputy Collins also said the number of apprenticeships are not high enough to deliver on the targets.
He said: "I've learned that that in 2017, only 60 apprentices registered for Brick and Stonelaying and 34 for Plastering. Even in other areas, numbers are not high enough to deliver on the Ireland 2040 targets.
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"These are all skills areas that are critically important in delivering new quality housing in our country. No matter what level of innovation comes down the tracks, we will still need qualified brick layers and plasterers to ensure houses are made available for our people.
"Minister Halligan has a lot to prove to me, and to the construction industry, that he has the wherewithal to preside over an apprenticeship system that can deliver for the economy and fundamentally for our citizens.
"His government's failure in terms of modern apprenticeships is made all the worse by his failure in the more traditional trades needed in the construction industry."
(CD/LM)
