Terence Flanagan (Dublin North East, Fine Gael)
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Question 353: To ask the Minister for the Environment, Heritage and Local Government if he will respond to a query (details supplied); and if he will make a statement on the matter. [8664/09]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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As signalled by the Minister for Finance in Budget 2009, a new single streamlined Government Equity Scheme is to be introduced in relation to affordable housing.

Initially, it is intended to apply the equity loan arrangement to affordable housing delivered under the 1999 Affordable Housing Scheme, Part V of the Planning and Development Acts and the Affordable Housing Initiative, once the details have been finalised and the necessary legislative provision has been introduced through the Housing (Miscellaneous Provisions) Bill, 2008.

The issue of introducing an open market component of the scheme, which would replace shared ownership, will be kept under review in the light of developments in the housing market. In the interim, the shared ownership scheme will continue to operate in its present form.