Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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From a social housing perspective, there is clear potential for real and meaningful synergies between the work of the National Asset Management Agency in ensuring the stability of the financial system and the role of my Department in responding to social housing need.

For some time now the social housing investment programme has been undergoing a significant restructuring to shift the focus increasingly towards more flexible delivery mechanisms, through the Rental Accommodation Scheme and, more recently, the introduction of long term leasing arrangements, with a lesser reliance on construction and acquisition, in line with the reform agenda clearly set out under the Government's housing policy statement, Delivering Homes, Sustaining Communities. This approach is enabling the Government to deal proactively with the new circumstances in the residential property market, and balance economic and social needs in this context.

I and my Department have met with representatives of NAMA to discuss means of securing a social dividend through the long-term leasing of suitable residential units for social housing purposes, while providing a return in line with NAMA's mandate. With NAMA now operational, this engagement is continuing and will intensify in the period ahead.