Mick Wallace (Wexford, Independent)
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24. To ask the Minister for Housing, Planning, Community and Local Government if he will consider initiating discussions with the Minister for Finance with a view to suspending the proposed NAMA plan to build 20,000 houses by 2020; and if he will make a statement on the matter. [2173/17]

Simon Coveney (Cork South Central, Fine Gael)
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As the Deputy will be aware, the root cause of the very challenging housing crisis lies in a chronic under-supply of housing across all tenures. The key objective of the Government's Rebuilding Ireland: Action Plan forHousing and Homelessness, available at , is to increase and accelerate housing delivery, in general.

Rebuilding Irelandrepresents a whole-of-Government response to the issues in the housing market and is designed to stimulate housing supply and remove many of the barriers to a normally functioning housing system. Oversight of implementation of the range of measures in the Action Planis provided by the Cabinet Committee on Housing which is chaired by An Taoiseach and involves many key Ministers, including the Minister for Finance.

NAMA is making a very substantial contribution, on a commercial basis, to the increased supply of new homes through its residential delivery programme. Against the background of major supply shortage in urban areas, NAMA has undertaken to fund the delivery of up to 20,000 residential units by 2020. This represents an important element of overall housing supply and I have no plans to engage with the Minister for Finance in relation to its suspension.

It should be noted that residential developments funded by NAMA are subject to the same planning and regulatory requirements as all other developments. This includes policies relating to Part V of the Planning and Development Act 2000 and as such, it is expected that a minimum of 10% of the anticipated output of this investment by NAMA, or about 2,000 units, will become available for social housing through this statutory mechanism over this period.

Furthermore, in terms of social housing provision, by the end of 2016, NAMA had delivered 2,378 residential units for social housing purposes to local authorities and Approved Housing Bodies.

Further information on NAMA’s contribution to meeting housing supply requirements is contained in its End of Year Review:2016,which was published on 5 January, 2017 and can be accessed at: