Latest news with #HousingAgency
Irish Times
a day ago
- Business
- Irish Times
Trade deal fallout and how to start accumulating wealth
After months of fraught negotiations, the EU and US finally have a trade agreement, or at least the bones of one. While much is yet to be worked out, it is clear that it is being seen as a win for the US and loss for the EU. Jack Power and Harry McGee report on the deal, while Colin Gleeson and Paul Colgan report on the reaction to it. Jack also has details of how the deal was done. Ruchir Sharma meanwhile, looks at what the world got wrong about tariffs. Irish financier Paul Coulson has agreed to cede entire control of Ardagh Group, the glass bottles and drink cans giant he built up over the past 25 years, to a group of its bondholders in exchange for a share of a $300 million (€257 million) pay-off. Joe Brennan has the details, as well as how Coulson got to this point . In Your Money, Siobhan Maguire looks at how to accumulate wealth . Do you have to make many, sharp choices. Or do you need to be patient? READ MORE Dominic Coyle meanwhile answers questions on whether you can pay into an Irish pension while being based in the UK, and whether an inheritance from the US is liable for tax in Ireland. The hospitality group which operates Hogan's pub on Dublin's South Great George's Street has lodged plans for a new pub restaurant at the former Ballsbridge Post Office in Dublin 4. Gordon Deegan has the plans. A pay increase of more than €23,000 was approved for the new chief executive of the Housing Agency after negotiations between two government departments. As Ken Foxe reports, the Housing Agency said their preferred candidate, Martin Whelan, had been paid a higher salary than that in his previous role in the National Treasury Management Agency. Aquila European Renewables (AER), the UK-based green energy company that took on a secondary listing in Dublin two years ago, has hit a hurdle in its plans to wind down as the potential buyer of a large portion of its assets scaled back its bid. Joe has the story. Finally, Leah McMahon, financial planner with Limerick-based Castle Capital and Rose of Tralee contestant takes us through her finances . If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
Irish Independent
2 days ago
- Business
- Irish Independent
Department of Public Expenditure gave green light to higher pay for housing executive
The post was meant to be filled with a starting package of €161,593 a year, the first point on the Assistant Secretary salary scale of the civil service. However, the Housing Agency said their preferred candidate had been paid a higher salary than that in his previous role in the National Treasury Management Agency (NTMA). They argued that their new CEO, Martin Whelan, should start at €184,852 per year, the fourth and final point on the agreed salary scale. The Department of Public Expenditure said that based on his 'substantial knowledge and experience' and his previous salary, they would have 'no objection' to the higher package. Internal records detail how the Housing Agency was left without a CEO when previous boss Bob Jordan resigned in September last year after a three-month notice period. An email from the Department of Housing said: 'Given the short lead-in time to Mr Jordan's resignation there is an urgency in commencing the recruitment process. 'It may be a case that an interim CEO will be required for a number of months as it is imperative that the work and consequential outputs of the Housing Agency is uninterrupted while the substantive CEO process is ongoing.' In response, the Department of Public Expenditure said they had no objection to a person being appointed on an acting basis if the need arose. They said the full-time appointment should be made on the Assistant Secretary level which begins at €161,593 per year and with no perks permitted under government policy. In November, the Housing Agency said they had found a candidate for the role but submitted a business case to seek a higher starting pay rate. It said that while Mr Whelan was 'enthusiastic about the role,' he had 'requested a review of the remuneration package.' The business case said: '[His] current salary at the NTMA is [redacted] which contrasts with the €163,209 at the first point of the Assistant Secretary grade. 'To address this and to reflect the level of experience and expertise Mr Whelan will bring, the Agency proposes appointing him at the top of the Assistant Secretary scale, €186,701.' It said a committee led by the chair of the Housing Agency fully supported it and believed it was a 'prudent and necessary investment'. As part of the business case, the Department of Housing said they also agreed that Mr Whelan should start on the higher rate of pay. There were further discussions with details sought on how many people had applied and how many were considered suitable for the role. In mid-November, the Department of Housing said they were hoping for a final decision as the matter was now 'very urgent and impacting the business of the [Housing] Agency'. On November 29, an email from the Department of Public Expenditure said they had closely considered the case and the candidate's previous experience. 'Taking into account his current salary in the NTMA, [we] would have no objection to the Housing Agency negotiating a salary up to the fourth point of the Assistant Secretary scale,' said the message. Asked about the records, the Department of Public Expenditure said they had nothing further to add.
Irish Times
2 days ago
- Business
- Irish Times
Housing Agency raised salary for incoming CEO by over €23,000
A pay increase of more than €23,000 was approved for the new chief executive of the Housing Agency after negotiations between two government departments. The post was meant to be filled with a starting package of €161,593 a year, the first point on the Assistant Secretary salary scale of the Civil Service. However, the Housing Agency said their preferred candidate had been paid a higher salary than that in his previous role in the National Treasury Management Agency (NTMA). They argued that their new CEO, Martin Whelan, should start at €184,852 a year, the fourth and final point on the agreed salary scale. The Department of Public Expenditure said that, based on his 'substantial knowledge and experience' and his previous salary, they would have 'no objection' to the higher package. Internal records detail how the Housing Agency was left without a CEO when their previous boss, Bob Jordan, resigned in September last year after a three month notice period. An email from the Department of Housing said: 'Given the short lead in time to Mr Jordan's resignation, there is an urgency in commencing the recruitment process. 'It may be a case that an interim CEO will be required for a number of months as it is imperative that the work and consequential outputs of the Housing Agency is uninterrupted while the substantive CEO process is ongoing.' The Department of Public Expenditure said in response that it had no objection to a person being appointed on an acting basis if the need arose. Department officials said at the time that the full-time appointment should be made on the Assistant Secretary level which begins at €161,593 per year and with no perks permitted under Government policy. In November, the Housing Agency said they had found a candidate for the role but submitted a business case to seek a higher starting pay rate. It said that while Mr Whelan was 'enthusiastic about the role', he had 'requested a review of the remuneration package'. 'To address this and to reflect the level of experience and expertise Mr Whelan will bring, the agency proposes appointing him at the top of the Assistant Secretary scale, €186,701.' It said a committee led by the chairperson of the Housing Agency fully supported it and believed it was a 'prudent and necessary investment'. As part of the business case, the Department of Housing said they agreed that Mr Whelan should start on the higher rate of pay. There were further discussions with details sought on how many people had applied and how many were considered suitable for the role. In mid-November, the Department of Housing said it was hoping for a final decision as the matter was now 'very urgent and impacting the business of the agency'. On November 29, an email from the Department of Public Expenditure said they had closely considered the case and the candidate's previous experience. 'Taking into account his current salary in the NTMA, [we] would have no objection to the Housing Agency negotiating a salary up to the fourth point of the Assistant Secretary scale,' said the message.
BreakingNews.ie
2 days ago
- Business
- BreakingNews.ie
€23k pay increase approved for new chief executive of Housing Agency
A pay hike of over €23,000 was approved for the new chief executive of the Housing Agency after negotiations between two government departments. The post was meant to be filled with a starting package of €161,593 per year, the first point on the assistant secretary salary scale of the civil service. Advertisement However, the Housing Agency said their preferred candidate had been paid a higher salary than that in his previous role in the National Treasury Management Agency (NTMA). They argued that their new chief executive, Martin Whelan, should start at €184,852 per year, the fourth and final point on the agreed salary scale. The Department of Public Expenditure said that based on his 'substantial knowledge and experience' and his previous salary, they would have 'no objection' to the higher package. Internal records detail how the Housing Agency was left without a chief executive when their previous boss Bob Jordan resigned in September last year after a three-month notice period. Advertisement An email from the Department of Housing said: 'Given the short lead in time to Mr. Jordan's resignation there is an urgency in commencing the recruitment process. 'It may be a case that an interim CEO will be required for a number of months as it is imperative that the work and consequential outputs of the Housing Agency is uninterrupted while the substantive CEO process is ongoing.' In response, the Department of Public Expenditure said they had no objection to a person being appointed on an acting basis if the need arose. They said the full-time appointment should be made on the assistant secretary level which begins at €161,593 per year and with no perks permitted under government policy. Advertisement In November, the Housing Agency said they had found a candidate for the role but submitted a business case to seek a higher starting pay rate. It said that while Martin Whelan was 'enthusiastic about the role,' he had 'requested a review of the remuneration package.' The business case said: '[His] current salary at the NTMA is [redacted] which contrasts with the €163,209 at the first point of the assistant secretary grade. 'To address this and to reflect the level of experience and expertise Mr Whelan will bring, the Agency proposes appointing him at the top of the assistant secretary scale, €186,701.' Advertisement It said a committee led by the chair of the Housing Agency fully supported it and believed it was a 'prudent and necessary investment.' As part of the business case, the Department of Housing said they also agreed that Mr Whelan should start on the higher rate of pay. There were further discussions with details sought on how many people had applied and how many were considered suitable for the role. In mid-November, the Department of Housing said they were hoping for a final decision as the matter was now 'very urgent and impacting the business of the [Housing] Agency.' On November 29th, an email from the Department of Public Expenditure said they had closely considered the case and the candidate's previous experience. 'Taking into account his current salary in the NTMA, [we] would have no objection to the Housing Agency negotiating a salary up to the fourth point of the assistant secretary scale,' said the message. Asked about the records, the Department of Public Expenditure said they had nothing further to add.
The Journal
4 days ago
- Business
- The Journal
Local councils across the country suspend homebuyer scheme amid funding row with department
HUNDREDS OF FAMILIES in towns and cities across the country are at increased risk of homelessness, as up to half of local councils have effectively suspended a last-minute measure designed to save tenants from eviction. The Tenant in Situ scheme allows renters to stay in their privately rented home even if the landlord decides to sell, with the council or the Housing Agency stepping in to buy the property from the landlord. According to figures provided to The Journal , just over half of Ireland's 31 local authorities have paused the scheme or are set to put a halt on it imminently. A conservative estimates from figures provided means more than 300 households facing eviction are left in limbo due to the uncertainty. The Department of Housing, which sets the rules and funding for the programme, defended how it has handled the scheme. It told The Journal that local authorities have drawn down 'only 36% of the allocated funding' and that 'no local authority has exhausted its individual allocated funding'. But this was disputed by a number of councils who said on the record that they have 'exhausted' or 'paused' the scheme because they have either committed their budget or have spent it on preventing families from ending up out of the street. New figures reveal drop in scheme The government is set to come under further pressure as figures published yesterday revealed that there was a drop of 40% in the number of properties acquired so far this year, when compared with the same period last year. 741 were acquired by councils in the first half of 2024 according to the Department of Housing's quarterly homeless report, while 292 have been acquired in the same period this year. A number of councils described being hamstrung by this year's funding allocation and new eligibility requirements required by the Department of Housing. Limerick City and County Council said it had been able to 'prevent homelessness' for 141 households since April 2023, but added that it had now stopped negotiations on dozens more homes. Since this year's funding was announced and new eligibility requirements tightening the scheme were set by the department, Limerick City and County Council 'have not been able to progress 32 properties,' a spokesperson said. Talks on a further 68 potentially eligible properties have not gone anywhere as as result. As well as Limerick, councils in Dublin, Galway, and Sligo all said they were putting the programme on hold, with funding cited by all. The standoff over the scheme comes as the latest housing figures show that 15,747 people are in emergency accommodation. How the scheme was formed Following the lifting of the eviction ban two years ago, the government has pumped hundreds of millions of euro into the plan, as figures showed that more than half of eviction cases involved a landlord selling their property. Since April 2023, more than 2,500 households have been able to avoid homelessness because of the scheme. But there have been a raft of changes introduced to the scheme since, seeing the requirements to qualify tighten. One of the new measures introduced by the department has been a requirement that the Tenant in Situ programme should only be used as a last resort by councils, with this point emphasised by Housing Minister James Browne to TDs during an Oireachtas committee last week . It's understood this has been partly taken as a way of preventing councils from overspending on homes, but it's feared it has resulted in making it harder for a family to avoid homelessness. Housing Minister James Browne has come under new pressure because of delays in the scheme. Spending limits have also been adopted by councils, with Dublin City Council capping its maximum spend under the scheme at €527,000 per house. The scheme was suspended for several months of this year as the outgoing government could not agree on new funding targets. The Department of Housing told The Journal that Browne, the Housing Minister, had gotten agreement from Public Expenditure Minister Jack Chambers to allocate an additional €265m for such acquisitions to get it back on track. This brought the budget for 2025 to €325m. Advertisement In a number of cases, The Journal learned that councils were also allocated significantly less this year compared to last year, which Opposition TDs argued was a contributing factor behind why the funding has already run out in some areas – particularly in cities. This led to holdups in the scheme this year until the government signed off on the extra €265 million to the scheme in recent months. This funding would cover measures including the Tenant in Situ scheme, along with vacant property purchases, and housing for disabled and older people. Which councils are impacted? Over recent months The Journal has covered the personal impact the changes and holdups in the scheme have had for families. Now, the vast majority of those affected are councils operating in large towns and cities – from Dublin to Cork and Sligo. Fingal County Council was among those which said it has 'paused all new applications' to the scheme because the funding allocation of €20million for second-hand acquisitions for this year has been 'exhausted' already. The amount the council had been allocated was almost half of that for the previous year, when it spent €39.9m to prevent homelessness for 121 households. It was a similar story for the country's largest local authority. Dublin City Council had completed purchases of 253 homes last year through the scheme and was allocated €95 million to cover acquisitions for this year. Because funding has been used to cater for households from a backlog of last year's cases, the council is unable to proceed with more purchases this year. Since January, the council has received 126 enquiries for the Tenant in Situ scheme but is 'not currently proceeding with any new acquisitions at this time'. Staying in the capital, Dún Laoghaire-Rathdown County Council and South Dublin County Council both said they were waiting to see if they received more funding to try and buy homes where eviction notices had been served this year. Elsewhere, Wicklow County Council said it has 'paused the scheme for the moment', as discussions take place with the Department of Housing for its budget to cover the rest of the year. Some rural councils are faring better. Kilkenny County Council is continuing the scheme 21 homes purchased to date, with two more in progress. Kerry County Council has similarly purchased 23 properties under the programme. In the past two years, Westmeath County Council has acquired 97 properties but added that it's 'more limited' due to the stricter criteria issued by the department for acquisitions. Munster and Connacht In Munster, Cork City Council and Limerick City and County Council have both been lobbying the department to increase its funding as a way to prevent homelessness. A spokesperson for Limerick City and County Council said the council was 'not actively using' the scheme any longer 'due to the current funding envelope being committed' already. It described its funding for this year as having 'limited the number of acquisitions we can pursue', and that it was continuing to 'lobby for additional funding to assist in acquiring more homes to prevent homelessness'. Waterford City and County Council was the only predominantly urban council in the country to say that it was still operating the scheme. In the west, the likes of Sligo County Council and Galway City Council have also placed the measure on hold. A total of 47 expressions of interest to the scheme from households in Galway city are on file 'should further funding become available in 2025″, a spokesperson for Galway City Council said. 'Some properties have been bought, and others are being progressed,' the spokesperson said. 'However, funding is limited and, at this stage, our 2025 allocation has been committed.' In Sligo, the council said it had prevented 35 families from falling into homelessness as of mid-July. 'A number of applications are currently on hold and will be assessed towards the end of 2025,' a spokesperson said. Rory Hearne, housing spokesperson for the Social Democrats, said that the restrictions on the scheme had 'worsened' the housing crisis. 'The fact that many councils, particularly city councils in Cork, Dublin and other urban areas, are already out of funding and have had to suspend the scheme shows the Tenant in Situ scheme has effectively been stopped in these areas, which are the areas worst hit by homelessness,' the Dublin North-West TD told The Journal . Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
