Menu
14/01/2009
Building Continues Despite Dwindling NIHE Capital
The NI Housing Executive has been praised for maximising its extremely limited funding in continuing to target new house construction in Northern Ireland.
NI Social Development Minister Margaret Ritchie has welcomed the Housing Executive's support for small and medium sized businesses in the construction sector.
Speaking in mid January, she said that the NIHE has managed to ensure many schemes will still go ahead this year, despite the capital not coming in due to the slump in house sales.
"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," she continued.
"Small and medium sized businesses are the backbone of the Northern Ireland economy and I have asked the Housing Executive to prioritise work that brings real benefit to construction workers at this time.
"I am pleased that they have found a way to let these schemes proceed," she said, explaining that the Housing Executive began the year needing to raise about £80 million from house and land sales.
In the event, estimated receipts are likely to be vastly lower - around £8 million.
Therefore, 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 and any additional funding received before the end of the financial year will be invested into the new build programme.
Overall though there was some bad news on new build schemes and Margaret Ritchie noted: "I am disappointed that a number of new build schemes have to be deferred until April.
"However, I am fully committed to meeting the Programme for Government target for new build and also the other priorities in the New Housing Agenda," she confirmed.
(BMcC/JM)
NI Social Development Minister Margaret Ritchie has welcomed the Housing Executive's support for small and medium sized businesses in the construction sector.
Speaking in mid January, she said that the NIHE has managed to ensure many schemes will still go ahead this year, despite the capital not coming in due to the slump in house sales.
"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," she continued.
"Small and medium sized businesses are the backbone of the Northern Ireland economy and I have asked the Housing Executive to prioritise work that brings real benefit to construction workers at this time.
"I am pleased that they have found a way to let these schemes proceed," she said, explaining that the Housing Executive began the year needing to raise about £80 million from house and land sales.
In the event, estimated receipts are likely to be vastly lower - around £8 million.
Therefore, 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 and any additional funding received before the end of the financial year will be invested into the new build programme.
Overall though there was some bad news on new build schemes and Margaret Ritchie noted: "I am disappointed that a number of new build schemes have to be deferred until April.
"However, I am fully committed to meeting the Programme for Government target for new build and also the other priorities in the New Housing Agenda," she confirmed.
(BMcC/JM)
Related Northern Ireland News Stories
Click here for the latest headlines.
25 April 2024
Executive Must Use Budget To 'Front Up On Billion Pound Promises'
The four Executive parties must use their budget to "front up on billion pound promises made in Assembly motions", SDLP Opposition Leader, Matthew O'Toole, has said.
Executive Must Use Budget To 'Front Up On Billion Pound Promises'
The four Executive parties must use their budget to "front up on billion pound promises made in Assembly motions", SDLP Opposition Leader, Matthew O'Toole, has said.
01 March 2024
Executive Agrees Increase In Regional Rate For 2024/25
The Executive has agreed an increase in the regional rate for 2024/25, to rise is line with inflation. If substantially approved by the Assembly, the regional rate element of the bill would add 46p per week to the bill for a domestic property with an average capital value of £123,000 and £10.
Executive Agrees Increase In Regional Rate For 2024/25
The Executive has agreed an increase in the regional rate for 2024/25, to rise is line with inflation. If substantially approved by the Assembly, the regional rate element of the bill would add 46p per week to the bill for a domestic property with an average capital value of £123,000 and £10.
28 February 2024
SDLP 'Disbelief' Over Origin Of £400m Reallocated Funding
The SDLP have expressed their "disbelief" over the Executive's failure to clarify what impact a remaining £400m in reallocated funding could have on public sector bodies and community organisations. Leader of the Opposition Matthew O'Toole was speaking after questioning Finance Minister Caoimhe Archibald in the Assembly on Tuesday.
SDLP 'Disbelief' Over Origin Of £400m Reallocated Funding
The SDLP have expressed their "disbelief" over the Executive's failure to clarify what impact a remaining £400m in reallocated funding could have on public sector bodies and community organisations. Leader of the Opposition Matthew O'Toole was speaking after questioning Finance Minister Caoimhe Archibald in the Assembly on Tuesday.
11 December 2001
Dodds announces £4 million housing scheme
The Minister for Social Development Nigel Dodds has unveiled a £4 million housing development which will provide 40 new homes for the people of the New Lodge area in north Belfast.
Dodds announces £4 million housing scheme
The Minister for Social Development Nigel Dodds has unveiled a £4 million housing development which will provide 40 new homes for the people of the New Lodge area in north Belfast.
16 December 2011
Social Housing Project Boosts Builders
There was a pre-Christmas boost on housing this week with the keys being handed over to residents in one of Northern Ireland's biggest social housing developments to date.
Social Housing Project Boosts Builders
There was a pre-Christmas boost on housing this week with the keys being handed over to residents in one of Northern Ireland's biggest social housing developments to date.
-
Northern Ireland WeatherToday:A dry and sunny start but cloud bubbling up with a few showers developing from late morning. Sunny intervals and scattered showers in the afternoon, these could be heavy at times. Maximum temperature 12 °C.Tonight:Remaining cloudy with a few showers continuing through the evening. Some drier, clearer spells in the early hours, before cloud builds and showers turn more persistent towards dawn. Minimum temperature 4 °C.
