HL Deb 29 March 1984 vol 450 c468WA
Lord Underhill

asked Her Majesty's Government:

Whether they will explain the appropriation of £8.7 million mainly for increased loan charges with regard to the NIHE.

Viscount Long

In common with other housing authorities in the United Kingdom, the Northern Ireland Housing Executive finances its capital expenditure mainly by borrowing. The resulting loan charges form part of the Housing Executive's revenue expenditure which is met partly by rental income and partly by payments of housing grant from the Government. The increase of £8.7 million in the housing grant is required mainly because loan charges are now expected to be higher than originally estimated and because provision is being made for the repayment of part of an outstanding loan from building societies.