§ 18. Mr. Simon Hughes
To ask the Chancellor of the Exchequer what percentage of the additional money allocated to housing expenditure in the autumn statement he estimates will have been spent by 1 January 1993.
§ Mr. Portillo
I am confident that the full £750 million, announced in the autumn statement as a boost to the housing market, will be spent by the end of this financial year. The amount that is spent by 1 January 1993 will depend, for example, on how quickly housing associations can complete the legal formalities on their purchases.