§ Sir Michael Neubert
To ask the Secretary of State for the Environment what estimate he has made of the total capital receipts available to local authorities from the sale of council houses in the last 12 months; and what was the total for the immediately preceding 12-month period.
§ Sir George Young
Receipts from the sale of council dwellings constitute the large majority of housing capital receipts. Our current estimate of usable housing capital receipts available to authorities from sales and disposals in 1991–92 is about £450 million (projected from the half-year data available). The value of 1990–91 usable housing capital receipts, reported by authorities, is £625 million. In addition to spending from usable receipts, councils may also finance expenditure from new borrowing, authorised by credit approvals, and by contributions from revenue accounts, and many also have unspent usable receipts from previous years.