Commenting on the ONS’s announcement, GWSF Director David Bookbinder said:

“Community controlled housing associations aren’t going to relish being deemed to be public bodies, but we’re confident this is a temporary state of affairs.

“It has been reassuring to hear both ONS and the Scottish Government confirm that the decision has no impact at all on associations’ ability to borrow.

“And we very much welcome the Scottish Government already having plans in place to make legislative adjustments to the regulatory framework which should lead to a reversal of the reclassification. We’re fully confident that the adjustments shouldn’t give lenders or tenants any cause for concern about the Scottish Housing Regulator’s ability to regulate the sector effectively.”