Mick Wallace (Wexford, Independent) | Oireachtas source

There is potential for Home Building Finance Ireland, HBFI, to be a positive development. I do not, however, see any rationale for NAMA's involvement in HBFI other than in relation to how money might be provided off the books. On several occasions in this House I have heard Members speak about availing of the expertise available in NAMA on housing. It is well known that it does not have that expertise. It simply engages large developers, with which it has found favour, to provide that expertise. To say it has expertise on housing is a little like saying former Anglo Irish Bank employees had expertise in the supply of housing during the boom times, which was not the reality. The Government has no scheme or structure in place to tackle the lack of affordable housing coming onto the market in Ireland. The previous scheme which was far from perfect was done away with in 2011. We now need a different type of scheme. Currently, the State is making no effort to supply affordable housing.

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