HC Deb 25 October 1993 vol 230 c405W
Mr. Frank Field

To ask the right hon. Member for Selby, representing the Church Commissioners, how the proceeds of selling the commissioners' holding in the Birkenhead precinct have been reinvested.

Mr. Alison

Proceeds from sales of commissioners' property are, generally speaking, applied towards the consolidation of the investment portfolio. Recent sale proceeds, including those from Grange precinct, have been used mainly to fund the remainder of the commissioners' development programme and to reduce borrowings.