§ Mr. Lathamasked the Secretary of State for Wales whether he will make a statement on the progress of the Land Authority for Wales since 20 June 1984.
§ Mr. Wyn RobertsDuring the financial year ending 31 March 1986 the Land Authority acquired about 128 hectares (317 acres) of land and disposed of about 69 hectares (171 acres) for residential, industrial and commercial purposes. Its land bank consisted of about 533 hectares (1,317 acres). About £5.9 million was spent on acquisition of land and provision of infrastructure, and income was about £5.0 million. The net profit for the year was £0.9 million and accumulated profits some £5 million. The authority's net worth at 31 March 1986 stood at some £12.8 million. Annual review reports updating the housing land availability studies have been published for the counties of Clwyd, Dyfed, Gwent and Mid, South and West Glamorgan.
We are satisfied that the Land Authority for Wales has continued to play a valuable role in facilitating economic development in Wales. It is particularly noteworthy that during this period the authority was instrumental in bringing about the first phase of the redevelopment of south Cardiff.