§ 115. Mr. Nigel Daviesasked the Minister of Town and Country Planning whether it is intended that the Exchequer grant to meet the deficit in the current accounts of new towns should ultimately be repaid by the development corporations of the towns concerned.
§ Mr. DaltonThe grants as such are not repayable, but any surplus arising from the winding up of a development corporation will be paid into the Exchequer.
§ 116. Mr. Nigel Daviesasked the Minister of Town and Country Planning on what basis of calculation half the management expenses of the new towns are being capitalised; and for how many years it is intended to continue this system.
§ Mr. DaltonPart of the revenue deficit is capitalised for the reasons given in my answer to the hon. Member for St. Albans (Mr. J. Grimston) on 18th April. Normally half is being capitalised in the first year, three-quarters in the second, and the whole thereafter.