Dáil debates

Tuesday, 11 June 2019

Ceisteanna Eile - Other Questions

Home Loan Scheme

5:35 pm

Photo of John CurranJohn Curran (Dublin Mid West, Fianna Fail) | Oireachtas source

I thank the Leas-Cheann Comhairle. Does the Department monitor how the scheme is implemented by the various local authorities? The information we have received from colleagues and so forth is that they are implementing the scheme differently and that there are varying degrees of delay in the processing of applications and the drawdown of funding.

The Minister put several figures on the record. He stated several times that the scheme is open because there is €60 million left. The problem is that local authorities are concerned that although there is €60 million left, there is €220 million in loans yet to be drawn down and they have not seen the colour of the back-up money to underpin that. That is causing concern for local authorities that do not want to pay upfront without seeing what type of scheme is envisaged. The announcement to be made this week by the Minister is crucially important. Everybody knows the scheme is grossly oversubscribed, but the underlying reason for the delay is that local authorities do not know how much money will be provided this year or next year or for what period they might have to carry this loan. The €60 million the Minister stated is available is not sufficient comfort when local authorities know there are other loans in the system and €220 million in loans have been approved.

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