asked the Minister for the Environment whether sufficient funds will be available to the Housing Finance Agency to meet the expected demand in 1984 for housing loans; and if he will make a statement on the matter.
552.
Written Answers. - Housing Finance Agency.
542.
asked the Minister for the Environment the sources for funding of the Housing Finance Agency in 1984; and the reason for the failure of the most recent invitation for tenders for supply of funds.
I propose to take Questions Nos. 542 and 552 together.
The capital allocation of the Housing Finance Agency in 1984 is £63 million which is £8 million more than the amount issued by the agency in 1983. The sources of the moneys extended by the agency are funds raised from institutional sources through the issue of index-linked stock and borrowings arranged through the banking system.
In relation to the agency's recent invitation to tender for stock, I understand that the agency decided not to accept any of the tenders received. Decisions in this matter are for the agency itself and I have no function in relation to them. The amount that the agency will be able to spend on the making of loans in the current year will not be affected by this decision. I am keeping the position in regard to the adequacy of the agency's allocation for this year under continuous review.