HC Deb 11 July 1986 vol 101 cc310-1W
Mr. Tony Banks

asked the Secretary of State for the Environment how much has been distributed by the London residuary body to the London boroughs.

Mrs. Rumbold

The London residuary body is distributing to boroughs the GLC's "top-end estimate" of £134 millions, net of £45 millions which is being used to pay staff compensation and other costs. The timing of the distribution is a matter for the LRB.

Mr. Tony Banks

asked the Secretary of State for the Environment what discussions he has with the London residuary body about drawing public attention to the distribution of Greater London council balances.

Mrs. Rumbold

The distribution of GLC balances has been discussed with the London residuary body on a number of occasions. In this and other matters it is for the LRB to decide how they publicise their actions. Information about GLC balances was included in LRB's published budget.

Mr. Tony Banks

asked the Secretary of State for the Environment what proposals have been made by his Department regarding borrowing by the London residuary body.

Mrs. Rumbold

With minor variations, residuary bodies have the same borrowing powers as local authorities. For certain purposes, they need the prior consent of the Secretary of State to borrow. The Department is in touch with the London residuary body about its need for such consents in respect of 1986–87.