06 June 2016
The Office for National Statistics (ONS) is to consider whether to reclassify Housing Associations in Scotland as public sector bodies for accounting purposes.
Housing Associations are currently regarded as private bodies in Scotland, however they have already been reclassified in England as public sector bodies for accounting purposes.
If the ONS decide to reclassify Scottish Housing Associations as public bodies, for accounting purposes, their debt would be added to Scottish public sector debt. This could potentially result in the imposition by the Scottish Government of far greater constraints and controls on borrowing.
Speaking at the recent Scottish Federation of Housing Association’s conference last week, Mr Kevin Stewart, the Minister for Local Government and Housing reaffirmed the current government’s opposition to such a reclassification.
Contact: Patrice Fabien, Partner, E: email@example.com,
T: 0141 221 8012