AQW 10921/17-22

Mr Matthew O'Toole
Social Democratic and Labour Party
South Belfast

Tabled Date: 24/11/2020
Answered On Date: 11/12/2020
Priority Written: No

Question:
To ask the Minister for Communities why the restriction on borrowing for the Northern Ireland Housing Executive was not lifted through extending the Prudential Borrowing rules as introduced in 2011 for local authorities.

Answer:

As the Housing Executive Landlord function is classified by the Office for National Statistics (ONS) as a Central Government-controlled Public Corporation, in line with the Consolidated Budget Guidance, any borrowing it undertakes scores against the Capital budget of the sponsor Department. Hence the need to restrict borrowing activities.

Local Councils are classified outside of Central Government and as such any borrowing they undertake does not impact on the Executive Budget.