Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I fully support all of those sentiments. In respect of the level of risk that they will increasingly carry, there is a need to ensure there is a good solid, off-balance sheet vehicle through which credit union or private finance can deliver increased approved housing body units. That would be one mechanism to protect them against some of that risk. Given the difficulties that the approved housing body sector has had through the redesignation process in Britain, if such a redesignation were to take place here that would have a very significant impact not just on the sector but on the targets for the delivery of units within the Government's current plan. Any new borrowing by the approved housing body sector would be on-balance sheet and have an impact on the expenditure ceilings and cause real difficulty for us. I am not against regulation. Good quality, strong regulation is needed and I support the Minister in that but I ask him to be mindful of the line that Britain crossed and that it is really important we do not cross it here.

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