Bríd Smith (Dublin South Central, People Before Profit Alliance)
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254. To ask the Minister for Housing, Planning, Community and Local Government if there are limits placed on the amount local authorities may borrow from the Housing Finance Agency for the purpose of building social housing. [39991/16]

Simon Coveney (Cork South Central, Fine Gael)
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My Department has responsibility for the provision of funding for social housing delivered through local authorities and approved housing bodies. The overall strategic objective of Government housing policy is to enable all households to access good quality housing appropriate to their household circumstances and in sustainable communities of their choice. The main focus of social housing supports is on meeting the most acute housing needs among the population, within the resources available. Thus, State- funded housing supports will continue to be targeted at those people who are unable to provide for their accommodation from their own resources, as measured by their annual net income.

To support the implementation of Rebuilding Ireland: Action Plan for Housing and Homelessness, I have secured €5.35 billion in Exchequer investment to deliver 47,000 social housing units through build, refurbishment, acquisitions and leasing, over the period 2016 to 2021. This €5.35 billion investment comprises some €4.5 billion in capital funding and €844 million in support of programmes funded from current expenditure. In addition, €200 million is being provided for the Local Infrastructure Housing Activation Fund through investment in key enabling infrastructure.

Under Budget 2017, some €1.3bn will be invested across the broad range of housing programmes next year, including those covered by the Rebuilding Ireland investment programme. The annual allocations for the years 2018 to 2021 will be finalised in the context of the annual budgetary process.

My Department monitors the impact of Non-Mortgage borrowing by local authorities on the General Government Balance (GGB) on an on-going basis. While there is a requirement for the overall borrowing of the local government sector to remain within the GGB parameters, should there be a requirement to borrow for social housing purposes, my Department will consider any sanction request in the context of supporting priority infrastructural investment, meeting contractual commitments and ensuring appropriate projects can proceed. Borrowing is a reserved function of each local authority; a local authority must demonstrate that any borrowing is matched by appropriate repayment capacity. However, given the funding being made available through Rebuilding Ireland, I am satisfied that sufficient capital funding is being made available to local authorities for social housing.