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Ritchie welcomes Housing Executive response to budget shortfall

Wednesday, 14 January 2009

Social Development Minister Margaret Ritchie MLA, today welcomed the Housing Executive’s support for small and medium sized businesses in the construction sector.

The Housing Executive has managed to ensure that many schemes will still go ahead this year, despite the capital not coming in due to the slump in house sales.

Margaret Ritchie said: “For some time I have flagged up the fact that there would be a shortfall in the housing budget as a result of the worldwide economic downturn, resulting in very low house sales and consequently low capital receipts.

“However, it is important that, even with limited resources, we do all that we can to help kick start the economy. Small and medium sized businesses are the backbone of the Northern Ireland economy. I have asked the Housing Executive to prioritise work that brings real benefit to construction workers at this time and I am pleased that they have found a way to let these schemes proceed.”

Speaking on the new build programme, Margaret Ritchie said: “I am disappointed that a number of new build schemes have to be deferred until April. However, I can assure everyone that I am fully committed to meeting the Programme for Government target for new build and also the other priorities in the New Housing Agenda.”

Notes to Editors:

  1. The Housing Executive began the year needing to raise about £80million from house and land sales. Estimated receipts are likely to be around £8million. Much of the resultant shortfall has been covered by reallocations from the Department for Social Development and extra funding provided by the Department of Finance and Personnel.
  2. Any additional funding received before the end of the financial year will be invested into the new build programme.
  3. For further information, please contact Philip Maguire DSD Information Office on 028 9082 9079, mobile 07788 108657. Out of office hours, please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.