Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I thank the witnesses for their answers. I have a couple of follow-up questions. How do the housing bodies envisage that the special purpose vehicle fund will emerge if the Central Bank and the Registry of Credit Unions consent to change the rules to allow credit unions to provide such funding? Do they envisage that funding from the HFA will form part of that fund, or will funding from the HFA be available separately as it currently is? Given that HFA funding is currently available, what is the additional advantage of having another source of funds? Somebody might rightly or wrongly point out that the housing bodies can seek to borrow from the HFA anyway. What is the added value of the credit union fund? That is my first question.

I would like to repeat a question that I put to the representatives of the credit union movement this morning. The housing bodies are in discussions with the Department, which is involved in discussions with the CSO and EUROSTAT about the possible redesignation of approved housing bodies as on-balance sheet State actors rather than non-State actors. How concerned are the housing bodies about that? What is their sense of where that is at the minute? If this redesignation happens, as it has already happened in the UK, it will create a particular difficulty for their operations and for the Government's plans.

Obviously, the housing bodies are involved in ongoing negotiations with the Department about the legislation, which we have yet to see. I am sure the bodies have more of an idea than we do of how it is shaping up. Are those discussions going well? Are there concerns about this process? Is there anything that the witnesses feel it would be appropriate to share with the committee about all of that at this stage?

I would like to say that my experience of approved housing bodies in my constituency has been quite different from that outlined by other members today. I want to acknowledge that difference. Co-operative Housing Ireland, which was formerly known as NABCO, has a significant number of units in Dublin Mid-West. Respond! has acquired units there more recently. Clúid also has a significant number of units. My experience has been very good. That does not mean there are no problems. We sometimes have difficulties with housing managers. My experience with housing bodies has been no better or no worse than my experience with local authorities. I have found that these relationships have been very productive. The units the housing bodies provide and manage are of a very good standard. I had quite a lot of experience with Oaklee when I was a councillor on Belfast City Council and my experience was the same. I do not suggest other members are wrong but it is important to acknowledge good engagement with housing bodies, good housing managers and well-managed approved housing bodies. My experience is that these bodies provide good-quality social housing in addition to the local authority housing that is there. The witnesses have clearly articulated today that this should continue to be the model. As long as it is, I will be very happy to support it and to see more of it.