§ 24. Mr. HopkinsTo ask the Secretary of State for the Environment, Transport and the Regions if he will make a statement on progress in the implementation of the phased release of capital receipts. [24911]
§ Mr. RaynsfordWe have notified all local authorities in England that wish to receive resources under the Capital Receipts Initiative of their allocations of Supplementary Credit Approvals for both 1997–98 and 1998–99. £174 million in credit approvals has been allocated for 1997–98 and £569 million for 1998–99. These additional resources will be targeted on housing and housing-related regeneration schemes. Guidance issued on 2 October, which sets out how the Initiative will be taken forward, has been deposited in the Library of the House of Commons.