What is the estimated fiscal impact to the Crown, if any has been estimated, of the three Income-related Rent Subsidy contract changes over the 25-year contract term?

Answer

The three contract changes on their own were designed to remove some uncertainty for financiers and improve project confidence, rather than directly improve the cost of finance. The changes were implemented alongside other interventions as a complementary package to improve finance for social housing. As a result, I am advised that minimal fiscal impact is expected for the Crown as a direct result of these contract changes over a 25-year term. What we expect to see is improved access to borrowing for Community Housing Providers and improved value for money from social housing investment.