Comhairle agree to look at using pension fund to build new housing

Following a request from Independent MSP John Finnie, Comhairle nan Eilean Siar has agreed to explore the possibility of investing a portion of the pension fund they share with Highland Council in building social and affordable housing.

Mr Finnie wrote to all six local authorities in the Highlands and Islands region asking them to consider following the lead of Falkirk council, whose pension fund has invested £30 million in the Housing Fund for Scotland.

The Falkirk investment is expected to fund the construction of over 300 affordable homes, and the Housing Fund for Scotland aims to raise a total of £150 million and build over 1,000 new homes.

Comhairle nan Eilean Siar’s Chief Executive, Malcolm Burr, has confirmed that the proposal will be discussed at the next meeting of the Highland Council Pension Fund. Mr Finnie has also lodged a Parliamentary Question asking that the MSP’s pension fund follows Falkirk Council’s example.