Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

It is quite incredible that this Government is using cost inflation to justify an underspend of almost €1 billion on the original allocations. I asked the Minister how much of the unspent capital housing budget was surrendered back to central government at the end of 2022. He did not answer that at all in his reply so let me help him. A total of €337 million that was allocated to local authorities to build homes was reallocated elsewhere, including to pay down local authority debt. A further €340 million was carried forward into 2023 and, according to December's Fiscal Monitor, at the end of 2022, a further €249 million was not spent, of which €231 million was on the capital side. That is a total of €926 million that was not spent but carried over, reallocated or surrendered back to the central Exchequer. How can the Minister stand over such a huge underspend in the middle of a housing disaster?

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