Joe Cooney (Clare, Fine Gael)

I express my full support for the Government's plans to raise the Housing Finance Agency's borrowing limit from €12 billion to €13.5 billion. This is an important and vital investment in Ireland's future. It gives the agency the funding needed to help to deliver more social and affordable houses throughout the country. We are facing a serious housing crisis. To solve, it we need to use every tool available. Making sure the agency has enough money to do its job is one of the most important steps we can take. The agency is a public body that borrows money at low rates from international markets. It then passes those savings to the local councils and housing bodies. This helps them to build homes more affordably and on a larger scale.

I have spoken to Clare County Council's chief executive and staff in the housing department on numerous occasions in recent months. I can without fear of contradiction say the local authority views the lack of available finances as one of the key obstacles to delivering housing. If we limit the agency's funding, we slow down the entire housing effort. Therefore, I encourage all Members of this House to support the Government in what it is seeking to deliver this evening. As Members of Dáil Éireann, it is our collective responsibility to come up with solutions to the housing crisis. It is one of the main issues of our time. I appreciate every party has alternative views on how to tackle the issue but increasing the finances available to the Housing Finance Agency should be no-brainer. The Bill is fundamental. The key reasons this increase matters are to help build more houses, faster and to give housing bodies financial stability especially when costs and interest rates are rising. It supports newer housing models like cost rental which help families who earn too much for social housing but still struggle with high rents.

I recently spoke to the Minister for housing about the pressure on people in coastal communities particularly in my constituency in County Clare in towns and villages like Kilkee, Doolin, Quilty, Carrigaholt, Kilbaha, Fanore, Spanish Point, Lahinch and Ballyvaughan. Many locals are being priced out of their own towns because of demand for second homes. For as long as I have been a public representative, this issue has come up on the doorsteps. If we are truly committed to sustainable rural development and tackling depopulation in places like west and north Clare, we need to take the necessary action when the opportunity allows. The Minister agreed with me that cost-rental housing can help with the issue. Thanks to new rules, housing charities can now give priority to local people when allocating these homes. That means people who live and work in these areas have a better chance of staying in their communities. For this to work, housing bodies need access to affordable long-term loans. The Housing Finance Agency is the best source for that kind of funding. In 2024, housing bodies delivered over 40% of social housing and more than half of all cost-rental homes. That shows how important they are to the system. That they now need more funding is a sign of success. It means they are building more homes and helping more people. In County Clare alone last year, approved housing bodies received €36.1 million in funding from the HFA from which it delivered 146 homes. In County Clare, approved housing bodies are making a real difference. We have seen this in projects like the Moínear co-operative housing development delivered in partnership with Clare County Council and Co-operative Housing Ireland. It is a great example of what can happen when local authorities and housing bodies work together and are supported by affordable financing. Focus Ireland and Clúid also have a strong presence in Clare and are committed to delivering more homes for people who need them. These organisations and others like Kilkee Housing Association are helping families to stay close to where they grew up, where they work and have support, which is vital. When talking about increased funding for the housing Finance Agency, we are talking about giving these groups the backing they need to keep doing what they do best. More funding means more homes, more security and more hope for people across Clare and beyond.

The Government's Housing for All plan sets ambitious targets. To meet those targets, the Housing Finance Agency must have enough money to support the work. The Housing Finance Agency's lending forecast to bodies and local authorities will increase significantly by as much as €6.6 billion up to 2028. Last year, housing charities were approved for over €2 billion in loans from the agency. That shows there is strong demand and a solid pipeline for new homes. If we do not raise the borrowing limit, we risk slowing things down. Housing groups might have to turn to private lenders which could be more expensive and less reliable. That would be bad for the State and families waiting for homes. Some people may worry about the State taking on more debt but the Housing Finance Agency offers better value than private lenders. It saves money in the long run and helps more people to get the homes they need, which is vital and important. A strong Housing Finance Agency means stronger communities and that the people I represent in County Clare, especially the rural communities I referred to earlier, can secure a home in their own area. It provides stable and affordable funding that powers our housing programme. By increasing its lending capacity, we are investing in a future where everyone has access to secure a high quality home.

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