CIH Cymru responds to ONS decision on the reclassication of housing association in Wales
CIH Cymru is responding to news that housing associations in Wales have been reclassified as public sector bodies by the Office for National Statistics (ONS)
‘We support the Welsh Government’s proactive work and commitment to reversing the ONS decision on housing association reclassification. We believe it is vital to ensure that as far as possible we continue protecting the key aims of the current regulatory regime in the broadest sense that are designed to demonstrate value for money, to ensure good standards of financial behaviour and governance, to safeguard tenants’ interests and accountability and to protect historic public investment.
CIH believes that it is important to bear in mind that the current system of regulation has helped create an environment in which lenders have been prepared to invest with confidence; and it has reassured tenants that HAs are bound by rules and by a regulator which protect their interests. Achieving the 20k affordable homes target announced in the programme for government recently may be compromised if housing associations are subjected to public sector borrowing rules.
We look forward to working closely with the Welsh Government and other key stakeholders to ensure the reversal of the ONS decision is well-informed by our members working across the housing sector in Wales’
Director, CIH Cymru