Thursday, 4 July 2019

Questions (116)

Michael McGrath


116. Deputy Michael McGrath asked the Minister for Public Expenditure and Reform if he has made a decision to enable more finance to be obtained for the Rebuilding Ireland home loan scheme; if not, when he expects to be in a position to make the decision; the extra amount he will authorise for the scheme; and if he will make a statement on the matter. [29027/19]

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Written answers (Question to Public)

The Rebuilding Ireland Home Loan launched in February 2018 with initial funding of €200m expected to issue over three years. The actual level of demand has been higher than expected, as result of which, the scheme requires a further tranche of funds to be borrowed by the HFA for it to continue.

The Minister for Housing, Planning and Local Government and I have been in discussions regarding additional funding. The request is subject to the normal deliberations afforded to any request of such nature, which would include general government balance and debt considerations in the context of a uniquely challenging budgetary situation for 2020. Further information regarding the estimation of the amount of extra funding is a matter for the Department of Housing, Planning and Local Government. It is anticipated that an announcement regarding further funding for the Rebuilding Ireland Home Loan will be announced shortly.