VISCOUNT GAGEasked Her Majesty's Government what proportion of the S.1 claims submitted under the Town and Country Planning Act, 1947, and now estimated to total between £345 and £350 millions, relate to the potential redevelopment of existing buildings.
§ THE CHANCELLOR OF THE DUCHY OF LANCASTER (VISCOUNT SWINTON)For the purposes of the scheme to be made under Section 58 of the Town and Country Planning Act, 1947, development values have to be ascertained in accordance with Section 61 of that Act, which broadly defines them as the difference between the restricted and unrestricted values of the interests in land in respect of which claims are made. The restricted value of an interest includes any value that it may have for development of any class described in the Third Schedule of the Act—in the case of existing buildings this includes their extension by not more than 10 per cert. of their cubic capacity or their rebuilding within a limit not exceeding their original cut is capacity by more than 10 per cent. The unrestricted value is the value which the interest would have had for a any kind of development if the Act had not been passed. I regret therefore that the information for which the noble Lord asks is not available, but from what I have said about the Third Schedule of the Act he will see that a considerable part of the value for redevelopment of existing buildings must be included in the restricted value and therefore excluded from the development value of the claims on the £300 million.
House adjourned at seven minutes before seven o'clock.