§ Mr. BercowTo ask the Secretary of State for Transport, Local Government and the Regions (1) if he will list those local authorities which have applied to HM Treasury for moneys to pay off overhanging housing debt; and if he will list those local authorities which(a) have received such moneys since May 1997 and (b) will receive such moneys pending residents' voting in favour of housing stock transfers; [7739]
(2) if he will list the criteria used to determine the order of preference in which local authorities which have applied to HM Treasury for moneys to pay off overhanging housing debt receive such moneys. [7747]
§ Ms KeebleA stock transfer proposal from a local authority with overhanging housing debt is required to meet the same criteria as other applicant authorities in order to obtain a place on the Large Scale Voluntary Transfer (LSVT) Programme and, if tenants support the proposal, the Secretary of State's consent to transfer. The receipt from the transfer must be sufficient to meet the premium payable to the Public Works Loan Board (PWLB) for early repayment of the authority's PWLB debt.
To date, four one-off payments have been made by the Exchequer to meet overhanging housing debt. In 1999–2000 a payment was made to Burnley borough council. In 2000–01 payments were made to Coventry city council, Calderdale borough council and Blackburn with Darwen borough council.
899WSix local authorities on the 2001–02 transfer programme (Bradford city council, Carlisle city council, Dudley metropolitan borough council, Knowsley metropolitan borough council, St. Helens metropolitan borough council and Walsall metropolitan borough council) will potentially require a one-off payment to meet their overhanging housing debt. I have held open a place on the 2001–02 Programme for Birmingham city council, subject to agreeing its stock valuation. If Birmingham is accepted onto the programme, it too will require a one-off payment from the Department.
To date, all proposals meeting the Secretary of State's criteria and gaining the support of a majority of tenants have been granted consent to transfer. It has not been necessary to prioritise transfer applications.