§ Mr. Steenasked the Secretary of State for the Environment on what terms he intends to finance the acquisition of land by urban development corporations.
§ Mr. HeseltineFollowing my consideration of its proposals, I expect to finance by grant—in-aid all land acquisitions made in 1981–82 by the Merseyside urban development corporation and, if established, by the 161W London docklands development corporaton. Reclamation and certain infrastructure and servicing works started on the land before 1984–85 will in the majority of cases also be grant financed. These dates are subject to review. In cases where commercial end-uses for the land are established, the corporations will pay the Exchequer the full market value of the reclaimed land. Subsequent land acquisitions, reclamation works and all other projects undertaken by the Corporations will be financed as described in my answer to the hon. Member for Sowerby (Mr. Thompson) on 27 February 1980.—[Vol. 979, c. 1353–54]