Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

The programme to deal with void units is a good measure, but there are very few such units in County Laois. On funding, I accept that there is no crock of gold anywhere, but the European Investment Bank will lend at low rates for genuine projects where we can show a revenue stream and a cash return. There is no cash return in the leasing of social housing, as money is just being poured into black holes. I accept the budgetary position has been difficult in the past few years, but the Minister of State has said we have turned the corner. We are in a different position on housing and there are sources of funding. I put it to the Minister of State that in accessing money and it showing up on the balance sheet, there is an opportunity to set up housing trusts through the local authorities in order that the moneys can be sourced off balance sheet, invested and provide a return. A key element of such a scheme is that after rent has been collected for ten or 20 years, the house can be sold to the tenant, if he or she wishes to purchase it. The problem with social leasing and the RAS is that the moneys go into a black hole and cannot be taken back, yet we still have to find a home for these tenants and families. Leasing and the RAS are very short-term measures.

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