§ Mr. Betts
To ask the Secretary of State for the Environment what is(a) the value of assets sold under the right-to-buy legislation, (b) the proceeds received by local authorities and housing associations, (c) the money which local authorities have been allowed to spend from the proceeds and (d) the amount of the proceeds spent by local authorities, for each year from 1980 to date.
§ Mr. Robert B. Jones
Information is not held centrally by the Department in the form requested.
However, figures of receipts from sales of council dwellings to sitting tenants are collected by the Department and these show that between the introduction of right to buy in 1980 and the end of March 1994 the total value of such sitting tenant sales, net of discounts, is an estimated £18.5 billion.
The number of sales to sitting tenants during this period was about 1,280,000 and 92 per cent. of such sales resulted from tenants exercising their right to buy.