HC Deb 26 November 1963 vol 685 cc55-6
23. Mr. Wade

asked the Minister of Housing and Local Government and Minister for Welsh Affairs what estimate he has made of the cost in a full financial year of the increase in expensive site subsidies for the purpose of financing the acquisition of land for development.

Sir K. Joseph

It is estimated that expenditure on expensive site subsidies during the current year will amount to £1,071,000 compared with payments totalling £714,000 in 1962–63.

These subsidies take the form of annual payments over a period of 60 years and the annual bill is, therefore, bound to grow as fresh sites qualify for subsidy.

Mr. Wade

We take it that the cost of the subsidies will be borne by the tax-payer. As the fortunate people who happen to own the land with increasing site value will reap the benefit of the subsidies, has the Minister definitely turned his back on any proposal for recouping for the community any part of the increased site value which has been created, directly or indirectly, by the community?

Sir K. Joseph

That is a different question, partly for me and partly for my right hon. Friend the Chancellor of the Exchequer.