CSO, 06 October 2025, 11am
The Capital Advance Leasing Facility (CALF) is capital funding provided to Approved Housing Bodies (AHBs) by Local Authorities to facilitate the provision of social housing. The facility provides a portion of the funding required to purchase/construct social housing units, with the balance of the investment required being borrowed separately from either the Housing Finance Agency or the private sector.
Table 1.1 shows the revision to the General Government Debt position over the period 2017-2024 relating to the recording of financing of AHBs via the CALF. The cumulative impact is a downward revision of €2.3 billion at the end of 2024. There is no impact on the General Government surplus / deficit.
It has been established that the Exchequer funding issued under the CALF is a loan from central government to local authorities who then on-lend to AHBs, and is therefore not accessed from the private sector. As this lending is between units within government, and does not involve lending from the financial sector, it does not add to government debt.
As part of CSO’s ongoing quality assurance processes, which include engagement with stakeholders and liaison groups, a review of the recording of the CALF scheme was initiated earlier this year. Consultation with Eurostat has also taken place on the outcome of the review. The revisions reported in today’s release reflect the outcome of this process and have been implemented as part of the October 2025 Excessive Deficit Procedure notification.
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