§ 55. Mr. Squireasked the Secretary of State for the Environment if he will take steps to enable a local authority to use a capital receipt for housing investment purposes in a year later than the one in which the receipt occurs without such expenditure counting against its capital expenditure allocation.
§ Mr. StanleyIndividual local authorities are already free to carry forward the prescribed proportion of net capital receipts generated in one year for use in future years. Expenditure on account of capital receipts, in whatever year it is undertaken, does not count against an authority's housing investment programme allocation. The only restriction is on capital receipts generated before the142W new capital control system was introduced on 1 April 1981; these may be carried forward only to the extent that they remained unspent on that date.