Dáil Éireann Debate, Wednesday - 21 April 2021
597. Deputy Bernard J. Durkan asked the Minister for Public Expenditure and Reform the way he can create realistic opportunities for first-time and other house buyers to gain access to the housing market in the short-term in the context of public expenditure and reform; and if he will make a statement on the matter. [20847/21]
Amharc ar fhreagraHousing remains a top priority for the Government and the Exchequer investment is evidence of this. In Budget 2021 I provided €5.2 billion to the Department of Housing, Planning and Heritage. This was an increase of €773 million on 2020 and a record level of funding. An extra €500 million was directed towards capital expenditure and will facilitate the construction of new social homes and the retrofitting of social housing stock.
In Budget 2021 €110 million was allocated for an affordability package to provide for affordable housing and cost rental schemes. Both the Serviced Sites Fund and the Local Infrastructure Housing Activation Fund will progress the delivery of over 2,000 affordable homes on both private and public land this year and subsequent years.
Final elements of the Affordable Housing Bill are being completed and the Minister for Housing, Planning and Local Government expects the Bill to be brought back to Government shortly. This Bill will facilitate the introduction of the Local Authority led Affordable Housing Scheme, providing homes on public land. It includes provisions to put the National Affordable Shared Equity scheme on a statutory footing, providing homes on private land and it puts Cost rental on a statutory basis.
In addition the Exchequer has committed to providing €1.25 billion of funding to the Land Development Agency. This funding is in addition to the €66 million of Exchequer funding allocated to the Agency this year and in addition to borrowings the Agency may undertake to significantly improve the utilisation of public land and increase the delivery of Affordable purchase and Cost rental units.
There is compelling international evidence that efficient capital public investment is central to long term economic wellbeing. Efficient public capital investment allows the economy to grow faster on a sustainable basis by raising productivity and supply capacity. This has an important role to play in alleviating capacity constraints that might otherwise restrict economic and social progress. In this regard my Department is also currently undertaking a review of the National Development Plan. The Plan will set out the Government's agreed view on infrastructure development to enable and sustain businesses, societies and economic growth.
