Oireachtas Joint and Select Committees

Tuesday, 22 March 2022

Joint Oireachtas Committee on Housing, Planning and Local Government

Social and Affordable Housing: Discussion

Mr. Barry O'Leary:

Increased borrowing is in hand but we are not under pressure in that respect. We have borrowed approximately €5 billion at this stage and we have headroom to go to €10 billion. The legislation allows us to go to €12 billion. Even if we had a bumper year for each of the next two years, we would not be hitting that €10 billion figure. We are not under pressure in that respect. My understanding is that the Department of Finance or the Department of Public Expenditure and Reform is the primary driver of that aspect. We would be the recipients of the increased borrowing limit but that Department would have that in hand.

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