Latest news with #MartinWhelan
Irish Independent
28-07-2025
- 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
28-07-2025
- 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
28-07-2025
- 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.
Extra.ie
17-06-2025
- Business
- Extra.ie
Housing Agency warns private rental supply will soon collapse
Supply of private rental units will fall significantly due to the collapse in institutional investment, the Housing Agency has warned. Martin Whelan, Housing Agency CEO, will tell the Oireachtas Housing Committee today that there are significant 'capacity constraints' on the construction sector as the country tries 'to scale up to 50,000 new homes each year'. Mr Whelan will tell the committee this will require an extra €7billion a year while the cost of soaring equity within the housing market has increased by one fifth. Pic: Getty Images The committee will also be told that between 2018 and 2022, institutional investors helped pay for 2,000 private rental homes each year, but this has plummeted. 'Since 2023, there has been almost no new forward investment deals in Ireland, which means the supply of private rental units will fall significantly,' he will tell the committee. A report by the Department of Finance last year on residential development found that €20billion a year is needed to build 50,000 homes each year, with €16.9billion of this coming from institutional investors who told the Government to ditch Rent Pressure Zones (RPZs) if they want their money. Pic: Crispin Rodwell/Bloomberg via Getty Images Institutional investors have highlighted the country's RPZs as a barrier to investing here. Last week, the Cabinet agreed to extend RPZs nationwide but also to allow rents to be reset when a new tenancy begins. Emergency legislation is due to be agreed by Cabinet today to speed up the process in a bid to prevent thousands of renters facing rent increases before their tenancy is covered by RPZ rules. Mr Whelan will tell the committee: 'The availability of this type of equity financing is particularly important for meeting supply targets for residential development over the medium term.' Pic: Getty Images Mr Whelan will point to investors' equity, noting its 20% increase is impacting the viability of building projects. Mr Whelan will tell the committee that the 'high cost environment' for construction, particularly for apartments, 'remains a major obstacle to delivering viable homes' for both the private market and cost rental schemes. The Housing Agency is delivering targeted subsidies, low-cost debt and equity programmes designed to help bridge this viability gap. The committee will be told that between 2023 and 2024, the number of planning permissions granted for apartments decreased by almost 39%, while the number of house approvals was down just 2.7% over the same period. Mr Whelan will say: 'Between 2018 and 2022, fewer than half the number of apartments granted planning permission were built. Over this period, there were 44,000 apartments built compared to 95,000 apartments granted planning permission.' The committee will be told that a three-bed semi costs €450,000, a two-bed apartment in a suburban location costs just below €550,000, and a two-bed apartment in an urban location costs around €600,000. Capacity constraints will also be flagged as a major issue.
Irish Examiner
17-06-2025
- Business
- Irish Examiner
'Undercapitalised' developers struggle to scale up house building, TDs to hear
Developers have struggled to scale up housebuilding due to many being 'undercapitalised' since the financial crisis, the Housing Agency will tell TDs today, Tuesday. The Oireachtas housing committee is due to host the Housing Agency and the Land Development Agency during its meeting on Tuesday afternoon, with both due to highlight challenges to housebuilding. In his opening statement, Housing Agency CEO Martin Whelan will tell TDs that ongoing capacity constraints within the construction sector are 'significant barriers to delivery'. These constraints include a shortage of zoned, serviced land as well as the current structure of the Irish development and construction sector, Mr Whelan will say. 'On the private side, few housebuilders outside the largest and institutionally-backed entities have a good pipeline of ready-to-go sites, and even when they acquire land that is zoned and with planning, infrastructure shortcomings and blockages can impede delivery,' Mr Whelan will tell the committee. 'Undercapitalised since financial crisis' On the capacity of the construction sector, Mr Whelan is due to say that most developers have 'remained undercapitalised since the financial crisis'. 'This significantly limits their ability to scale up development activity, with many operating on a project-by-project basis rather than on a programme of concurrent development projects,' Mr Whelan will say. 'On the construction side, where we appear to be at, or close to, full capacity, the challenge is one of productivity — how can the industry do more with existing resources?' In particular, Mr Whelan will cite the need to further adopt the use of modern methods of construction. The Housing Agency chief is also due to call for an increase in the number of staff in local authorities and approved housing bodies to deal with the rise in the number of social homes. This is to support 'good estate management and tenant services', Mr Whelan will say. CEO John Coleman is expected to tell the Oireachtas housing committee about challenges facing the Land Development Agency, including a lack of zoned, serviced land, the cost of delivering apartments, and legal challenges to planning permissions. Picture: Mike Shaughnessy He will tell TDs the Housing Agency has been working with an 'industry consortium' to develop a social and affordable housing apprenticeship, which aims to address the skill shortage in the area. It is expected apprentices will begin enrolling next year, he will add. On capital investments, Mr Whelan will tell TDs and senators that to reach 50,000 houses a year, there will need to be approximately €20.4bn worth of finance allocated to housing, of which €8.2bn must be equity. More apartments needed In particular, he will say this requires more apartments to be built, which require more equity to be provided. He will cite research from the Central Bank, which says equity finance fell from an average of €2.5bn in 2021 and 2022, compared with €450m in 2023 and 2024. 'The availability of this type of equity financing is particularly important for meeting supply targets for residential development over the medium term,' he will say. The CEO of the Land Development Agency (LDA), John Coleman, is expected to tell the committee there are a number of challenges facing the agency, including a lack of availability of zoned, serviced land, the cost of delivering apartments, and legal challenges to planning permissions. He will also highlight 'a lack of investment in the rental sector', as well as viability challenges to unlocking brownfield sites for development due to remediations costs associated.
