§ 20. Mr. Knowles
asked the Secretary of State for the Environment how many local authorities have already increased the maximum discount for council house sales in their area to 60 per cent.
§ Mr. Lofthouse
asked the Secretary of State for the Environment what level of capital receipts is anticipated for local authorities for 1984–85, 1985–86 and 1986–87 from the sale of council houses.
§ Sir George Young
Total local authority housing capital receipts in 1984–85 are forecast to be £1,465 million, of which £1,055 million will be from the sale of council houses. The detailed forecasts, including the underlying assumptions about council house sales, are as attached.
£1m cash Receipts from sales of land 150 Initial receipts from council house sales 825 Repayments of sums left outstanding on sales 230 Repayments of loans to private persons 235 Repayments of loans to housing associations (excl. HAG) 25 Total forecast housing capital receipts 1,465
The assumptions about council house sales on which these forecasts are based are:
Assumption Number of completed sales 162,000 Average selling price, net of discount £12,660 Average level of private finance 40 per cent.
There are no detailed forecasts for capital receipts from council house sales beyond 1984–85. Total housing capital receipts in both 1985–86 and 1986–87 are, however, assumed to be at least £1,300 million.