§ Ms KellyTo ask the Secretary of State for the Environment, Transport and the Regions what plans he has to reform housing finance; and if he will make a statement. [75635]
§ Mr. RaynsfordIn December 1998 we issued a consultation paper "A New Financial Framework for Local Authority Housing: Resource Accounting in the Housing Revenue Account" seeking views on proposals for changes to local authority housing finance. The proposals would introduce a form of resource accounting for the Housing Revenue Account (HRA). It is also proposed to remove expenditure on rent rebates from the HRA leaving the account as a landlord account reflecting the cost of providing housing at below market rents. The aim of the proposed New Framework is to make housing accounts easier to understand for both councils and their tenants and to enable better-informed decisions about the management of housing assets. Consultations are not yet complete and there will be an announcement about our plans in due course. A copy of the consultation paper is in the Library.