Local authority housing in Ireland could be completely wiped out if Brexit causes an economic downturn, a committee has heard.
“We have a pending difficulty that if we don’t resolve this sooner rather than later the housing provision we provide will be wiped out completely.” That meant the AHBs, which were off-balance sheet, should be classified as being on the government’s balance sheet. The groups told the committee that both the Department of Finance and Department of Housing support the reclassification in theory, however some frustration was voiced about the lack of urgency from both departments, and lack of communication.
“Where we find ourselves both in terms of housing needs and importantly, where we are in terms of macroeconomics; facing into the summer economic statement, pre-budget prep, one of the possibilities is if Brexit turns out in the worst possible way, we could be in deficit.