Pearse Doherty (Donegal, Sinn Fein)
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167. To ask the Minister for Finance the consultations or discussions his Department has been involved in regarding establishing an off-book funding mechanism for housing; if he will report on these discussions; and if he will make a statement on the matter. [6159/16]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, in November 2014, the Department of Environment Community and Local Government (DECLG) launched their Social Housing Strategy 2020 as part of a multi-annual housing expenditure programme. The strategy provided for the establishment of a working group to examine the viability of off-balance sheet mechanisms for the delivery of new social housing. In this context, the Group is considering proposals from a wide variety of developers, investors, financiers, Approved Housing Bodies and others who expressed an interest in being involved in the provision or financing of social housing across the country. This work is still ongoing and officials in my Department are assisting the DECLG, which is primarily responsible for the formulation and implementation of the social housing strategy.

The Deputy will be further aware that officials from my Department and DECLG have met with Credit Union sector representatives to examine how they can assist in the area of social housing. These proposals are at an early stage of development, and I should point out that any such proposals are subject to the approval of the Registrar of Credit Unions at the Central Bank of Ireland, which is the independent regulator for the credit union sector.