Pearse Doherty (Donegal South West, Sinn Fein)
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313. To ask the Minister for Finance if loans from the Housing Finance Agency to voluntary sector housing associations are included in the calculation of the State's debt to GDP ratio. [41549/14]

Michael Noonan (Limerick City, Fine Gael)
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As the Housing Finance Agency (HFA) is classified within general government all of its debts are included in the compilation of general government debt. Their debt would include any borrowing undertaken to fund lending activities to housing or other bodies. Loans from the HFA to voluntary sector housing associations are classified as assets on the balance sheet of the HFA and therefore do not impact the overall debt figure.