The Scottish Government is to introduce a new Housing Bill to ensure Registered Social Landlords (RSL) can be classified as private bodies.

The legislation will support the delivery of 50,000 new 'affordable' homes and ensures RSLs can borrow money privately, on top of a government pledge to invest £3 billion in 'affordable' housing.

RSLs are estimated to borrow around £300 million a year as private bodies to support their house building programmes.


The announcement will provide reassurance to RSLs following the Office for National Statistics' decision to classify RSLs as public bodies in the national accounts.

Housing Minister Kevin Stewart said: "The First Minister made clear in Programme for Government that we are committed to RSLs remaining classified as private bodies in the national accounts. In light of today's announcement by the ONS, the Government will bring forward a Bill to adjust the powers of the Scottish Housing Regulator. This will allow the ONS to reclassify RSLs to the private sector.

"Reclassifying RSLs to the private sector is important as it will ensure their borrowing continues to be treated as private borrowing, which can be used to augment the £3 billion of public investment that the Government is providing to support the delivery of 50,000 new affordable homes in the next five years."

(LM/CD)