§ The Minister of State, Office of the Deputy Prime Minister (Lord Rooker)
My right honourable friend the Minister for Housing and Planning has made the following Written Ministerial Statement.
I am announcing today the publication of a consultation paper concerning the regional split of funds for housing investment by local authorities and housing associations allocated through regional housing pots.
The Sustainable Communities Plan introduced new arrangements for allocation for mainstream funding to support housing investment. Under these new arrangements allocations are increasingly being directed to address strategic regional priorities based on advice from regional housing boards.
The split of such investment funding between the nine English regions has for many years been allocated on a largely formulaic basis. The paper seeks views on our proposal that the split continues to be made on a formulaic basis, but the formula itself be simplified and linked more directly to the Government's housing objectives and associated public service agreement targets on balancing supply and demand (PSA5) and on decent homes (PSA7).
Consultation will run until 4 February 2005. Copies of the consultation paper have been made available in the Libraries of the House and it is available on the Office of the Deputy Prime Minister's website.