§ Lord Hyltonasked Her Majesty's Government:
What sums have been received in cash since 6th April 1979 by local authorities in England and Wales as a result of the sale of council houses (or flats), and how much they have provided by way of loans to their tenants for house purchase.
The Parliamentary Under-Secretary of State, Department of the Environment (Lord Beliwin)In the period 1st April 1979 to 30th September 1981, it is estimated that local authorities in England and Wales had £526 million initial capital receipts from the sale of 171,400 council dwellings, including the full selling price where sales were privately financed and deposits on sales with a council mortgage. A further estimated £143 million of capital receipts were repayments of loans on past sales.
The sums left outstanding in the form of loans on sales of council houses in the same period is estimated at £1,119 million most of which would have been on sales to council tenants.