§ Mr. Proctorasked the Secretary of State for the Environment what proceeds to the Exchequer have derived from the sale of new town assets; and if he will make a statement.
§ Mr. StanleyBetween 1 April 1979 and 30 September 1981 £212 million had been realised from the sale of industrial and commercial assets in the English new towns. We estimate that about £40 million will have been paid to the Exchequer in tax. A further £21 million has been paid into the national loans fund to redeem debt. The remaining benefit to the Exchequer has been a reduction in the call on the Exchequer to finance the new towns' investment programmes.