Oireachtas Joint and Select Committees

Thursday, 19 January 2023

Public Accounts Committee

Financial Statements 2020: Housing Agency
Financial Statements 2021: Approved Housing Bodies Regulatory Authority
Chapter 7: Housing Agency Revolving Acquisition Fund
Section 2 Report – Unauthorised Release of Funds from the Central Fund of the Exchequer

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

I will clarify that point. I said this at the start. I acknowledge the good work the sector is doing, but we have left a way open, in the design of these five schemes, such that most of these houses can end up in a situation, when they are out of mortgage and the finance is discharged on them, where the State has no control, loses the asset, and tenants have no control over rent. It essentially becomes a private entity and a private matter between tenants and the AHB. The case I outlined is that of a private company brought in to manage them. I accept the vast majority of people who formed small housing bodies over the years did so with good intentions and gave up their time on a voluntary basis. That has been accepted. I also accept that the larger bodies act professionally. My dealings with and observations of them have been positive. I have found them to be good, generally, but not always. I accept that. What I am pointing out is that we have left a way open, through these schemes, for these situations to arise in respect of no less than 50,000 homes.