Oireachtas Joint and Select Committees

Tuesday, 16 February 2021

Joint Oireachtas Committee on Housing, Planning and Local Government

General Scheme of the Affordable Housing Bill 2020: Discussion (Resumed)

Dr. Larry O'Connell:

The Deputy will want us to focus on the question of permanent affordability under the current scheme. Importantly, there are three actions under the Bill that will do much to help with affordability. NESC has always argued that we need to consider the three channels of delivery, those being, the private sector, local authorities and approved housing bodies, AHBs. In this Bill, there is an attempt to engage all three channels in pursuit of affordability.

The Deputy asked how the approach in the private sector lined up with permanent affordability. We would view it as desirable if the approach was one of permanent affordability, but this is an attempt to support permanent affordability in the private sector to a degree. The equity stake held by the State is available to be returned to a revolving fund for reinvestment in housing. That is in line with the idea of permanent affordability. While I am not saying it is the ideal, it is a compromise that will attempt to return funding to support future generations that are seeking to buy houses.

Comments

No comments

Log in or join to post a public comment.