David Stanton (Cork East, Fine Gael)
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Question 286: To ask the Minister for the Environment, Heritage and Local Government the meetings, discussions and correspondence he or officials from his Department have had with the National Asset Management Agency in relation to a social dividend such as leasing of residential properties for social housing purposes; the progress in relation to same; and if he will make a statement on the matter. [12006/10]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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From a social housing perspective, I see clear potential for real and meaningful synergies between the work of the National Asset Management Agency in ensuring the stability of the financial system and the role of my Department in responding to social housing need.

For some time now the social housing investment programme has been undergoing a significant restructuring to shift the focus increasingly towards more flexible delivery mechanisms, through the Rental Accommodation Scheme and, more recently, the introduction of long term leasing arrangements, with a lesser reliance on construction and acquisition, in line with the reform agenda clearly set out under the Government's housing policy statement, Delivering Homes, Sustaining Communities. This approach is enabling the Government to deal proactively with the new circumstances in the residential property market, seeking to make economic necessity and social need work in tandem.

I and my Department have met with representatives of NAMA to discuss how we might seek to ensure that a social dividend is secured through the long-term leasing of suitable residential units for social housing purposes, while providing a return in line with NAMA's mandate. With NAMA now operational, I anticipate that this engagement will continue and intensify in the period ahead.