Northern Ireland (Regional Rates and Energy) (No. 2) Bill

The Secretary of State will recall that during the passage of the Northern Ireland (Executive Formation and Exercise of Functions) Act 2018, we raised an urgent issue that crystallises at the end of this month: the forthcoming resources available to our housing associations in Northern Ireland. Because of an Office for National Statistics definitional issue, they would not have been able to draw down on financial transactions capital tax. Will she confirm today that Her Majesty’s Treasury has agreed to extend the derogation on that definition and that legislation will be brought forward in this Parliament to resolve this issue satisfactorily, so that our housing associations and co-ownership and other schemes have the funding available that will not impact on our block grant, but will allow people to have a sustainable future home in the Province?