Dáil Éireann Debate, Thursday - 9 May 2024
189. Deputy Rose Conway-Walsh asked the Minister for Housing, Local Government and Heritage the mechanism and procedure for increasing the Housing Finance Agency’s ability to lend beyond the amount outlined in the ‘Housing for All’ plan detailing any associated Exchequer costs; and if he will make a statement on the matter. [21146/24]
View answerThe Housing Finance Agency (HFA) plc is a non-commercial semi-State company under the aegis of the Minister for Housing, Local Government and Heritage, limited by shares under the terms of the Housing Finance Agency Act 1981.
The HFA has a statutory borrowing limit of €12bn enshrined in legislation. The HFA has committed to providing €5bn in funding to facilitate the successful delivery of social and affordable housing under the Government’s Housing for All goals. Should, in future, the Government wish to consider increasing the HFA’s ability to lend beyond the €5bn amount outlined in Housing for All and/or above the €12bn statutory borrowing limit, the mechanisms and procedures that would underpin this decision would depend on factors such as (not not limited to):
- the level of increase sought,
- the type of lending activity that would be funded by the HFA; and
- the associated timeframe within which the increase would be required.
Associated Exchequer costs would also depend on the above factors and additional considerations.
Engagement between my Department, the Department of Finance and the Department of Public Expenditure, NDP Delivery and Reform would be required on matters pertaining to the consideration of any increase, in the event of any such decision being made by Government.
