§ 15. Mr. George Robertsonasked the Secretary of State for Scotland what are the likely sources of finance for mortgages for the sale of local authority housing, and how much will be available from each source.
§ Mr. RifkindAll prospective purchasers will be expected to seek finance for sales from private sources in the first instance. As the explanatory and financial memorandum relating to the Tenants' Rights Etc. (Scotland) Bill indicates, we have estimated that 30 per cent. of the finance will be drawn from tenants' existing resources or provided by building societies and other private lending institutions, leaving 70 per cent. to be provided through loans from housing authorities.
§ Mr. RobertsonThe explanatory and financial memorandum to the Bill merely deals with one of the financial aspects of the sale of council houses. Can we expect from the Scottish Office the commitment to provide a long-term assessment of the financial consequences to local authorities as well as to central Government that has been promised by the Secretary of State for the Environment? Are we likely to receive that assessment in sufficient time to enable that most important aspect of the sale of council houses to be considered on Second Reading?
§ Mr. RifkindWe intend to provide the Government's assessment of the financial consequences to assist Members when the Bill is being considered.