HC Deb 28 March 1973 vol 853 c313W
40. Mr. Horam

asked the Secretary of State for the Environment if he will increase the subsidies to housing associations to offset the effects on them of value added tax.

Mr. Channon

Where VAT relates to expenditure on new building schemes which is reckonable for subsidy, it will count for subsidy. VAT on conversion and improvement schemes will also count provided it does not take costs above the cost limits for grants.