§ Mr. Michael Latham
asked the Secretary of State for the Environment (1) how he calculated an annual average disposal value to local authorities in England and Scotland of £800 million to £900 million, and to the Land Authority for Wales of £50 to £55 million, from the sale of development land; what amount of annual acreage sold those figures assume; and what is the assumed average price per acre;
(2) how he calculated an annual acquisition cost to local authorities in England and Scotland of £300 million to £400 million, and to the Land Authority for Wales of £12 million, for the purchase of development land; what amount of 261W annual acreage acquired those figures assume; and what is the assumed average price per acre.
§ Mr. John Silkin:
These are broad estimates based on the amounts of land for private development likely to be publicly acquired each year eventually when the land scheme is in full operation—that is, after the second appointed day—to which have been applied estimated average current use and full market values for new land and redeveloped sites at present-day values. The relevant figures using broad averages covering all parts of the country and land for all types of development are:
England and Scotland Wales Land coming into development each year (acres): New development 20,000 1,800 Redevelopment 6,000 200
Great Britain Average Current use values (per acre): For new development … £1,000 For redevelopment … £60,000 Market values (per acre): For new development … £20,000 For redevelopment … £80,000