Reclassification of Housing Associations

Reclassification of Housing Associations
That this Assembly notes the likelihood that the Office for National Statistics will reclassify Northern Ireland’s twenty-two housing associations from independent social businesses to public bodies; that this may limit their ability to access private finance to build new homes; that the £1 billion of private debt already on their books could be added to the Executive’s balance sheet, taking the Executive’s total borrowing to levels which would reduce drastically its ability to borrow money for other initiatives across the Executive Departments; and calls on the Minister for Communities to prepare to bring forward urgent legislation to reverse the reclassification of Northern Ireland housing associations so that they can remain classified as independent social businesses.
Private Members' Motion
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