§ 1. Mr. Tebbitasked the Secretary of State for the Environment why he gave capital sanction for the purchase of the Royco site at Kings Head Hill, E.4.
§ The Under-Secretary of State for the Environment (Mr. Gerald Kaufman)Because the purchase of this development in an advanced state of construction will provide a quick addition to the housing stock available to the council to meet its serious housing needs.
§ Mr. TebbitIs the Minister aware that he is under some misapprehension? Is he aware that the site is not in an advanced state of construction? Does he know that a deposit of over £1 million has been paid to the developers and that no firm guarantee of completion has been given? Does he know that the council is refusing to purchase suitable property immediately available in other parts of the borough? Further, is he aware that Royco, the development company in question, has played the same game—namely, making a 1572 gross profit and getting off the hook on which it impaled itself—in the London Borough of Hillingdon at Ickenham?
§ Mr. KaufmanI am sorry that the hon. Gentleman should cast such reflections on a private developer. I hope that the borough of Waltham Forest will pay attention to any strictures that are relevant. I would point out to the hon. Gentleman that the situation in Waltham Forest is very serious and that initiatives of this kind are important. After all, when the hon. Gentleman's party was in power the number of housing starts in Waltham Forest fell from 827 to 247.
§ Mrs. ThatcherMy hon. Friend pointed out that the Minister's information was incorrect. Therefore, he has given permission on a totally incorrect set of facts. The houses are not in an advanced state of construction—indeed, far from it. Will he now withdraw sanction?
§ Mr. KaufmanI shall certainly examine the situation to see whether there is any basis for what the hon. Member for Chingford (Mr. Tebbit) says.