§ Mr. Spellerasked the Secretary of State for the Environment if he will allow local authorities which make a profit on industrial site transactions to reinvest the profit in developing further industrial sites and providing more job opportunities.
§ Mr. KingLocal authorities may use profits from industrial site transactions to finance the development of further industrial sites only within their capital expenditure allocations. They may, however, supplement their expenditure allocations by the use of capital receipts from the disposal of assets including industrial sites.