Oireachtas Joint and Select Committees
Wednesday, 24 May 2023
Committee on Budgetary Oversight
Sovereign Wealth Funds: Discussion
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
That is interesting.
Mr. Ashmore stated that the job of ISIF is commercial investment. I think "on the commercial side of the line" is the way he put it. That is a slightly blurry line in some areas, is it not? It could be argued that it is hard to say on which side of the line social, public and affordable housing are. I would be interested in Mr. Ashmore's view of that. Public housing delivers a return. It might not be as much of a return as private, solely commercially-focused housing, but it still delivers a return and it saves the State money in a more general sense because less money is being paid in housing assistance payments, HAPs, and rental accommodation scheme, RAS, payments. Arguably, the net effect is good from the State's point of view. I wonder about that. I think Mr. Ashmore mentioned that ISIF directly invests in social housing.
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