§ Mr. Michael Cocksasked the Secretary of State for the Environment what is the current rate he is certifying for the redemption of rent charges under Section 191 of the Law of Property Act 1925; and what are the average legal charges paid by those redeeming through his department.
§ Mr. ChannonDuring the last four, weeks the purchase price has averaged 10.07 times the annual rent charge. The legal charge paid by an applicant is a matter to be agreed between him and the rentowner. The Department has no details of these payments.
Year Gross Revenue Expenditure £ million Proportion met from rates Proportion met from Government Grants Other Income % % % 1941–42 … … … … 536 37 51 12 1951–52 … … … … 842 39 42 19 1961–62 … … … … 1,980 38 42 20 1971–72 … … … … 6,270 29 42 29 Details for earlier years are not readily available. The proportion of gross expenditure met by domestic ratepayers in 1961–62 was 18 per cent. and in 1971–72 was 14 per cent. Figures for the earlier years mentioned above are not readily available. Procedures for the collection of financial information
18Wrents in England and Wales and in greater London, respectively, which were previously paid for houses and flats whose average rents, exclusive of rates, were determined in 1972 by rent officers at £242 and £347, respectively.
§ Mr. ChannonFigures for previous rents and average rents determined by rent officers in 1972 are set out below: