Oireachtas Joint and Select Committees

Wednesday, 8 May 2024

Committee on Budgetary Oversight

Stability Programme Update: Discussion

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

That may also apply to some of my other questions. All these issues have become more important as the Government is legislating to lock away €6 billion each year. This is likely to mean that in the coming years the Government will have limited space to increase capital spending on the building of social and affordable homes above what is already accounted for in the base. Another substantial source of financing for construction is the Housing Finance Agency lending to the approved housing bodies. This is not an Exchequer cost but it falls within the general government balance. The stability programme update provides for an indicative general government balance out to 2027. Housing Finance Agency lending to local authorities and the approved housing bodies, AHBs, currently stands at between €1 billion and €1.5 billion.

How is the Housing Finance Agency lending built into the general government balance projections? How much lending is projected and built in each year? Is Housing Finance Agency lending built into the general government balance for 2027? Are there are any other forms of non-voted expenditure for building social and affordable housing that are within the general government balance but off the Exchequer balance sheet?

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