Queries on €400m set aside for social housing

Questions have been raised as to whether any homes have been built from €400m in proceeds from the sale of Bord Gais Energy that were originally set aside for investment in social housing.

Fianna Fáil wants to know where the money is after a failure to put the funds in a special investment vehicle that would keep the cost off the State’s balance sheet.

It was promised in Budget 2015 that €400m from the proceeds of the sale of Bord Gais Energy would be used through a special financial vehicle to fund social housing. However, no new model or financing of social housing on an off-balance sheet basis was found for this.