London Residuary Body

HC Deb 24 March 1987 vol 113 c135W

Mr. Tony Banks

asked the Secretary of State for the Environment, pursuant to his reply to the hon. Member

£ million
	1986–87	1987–88
	Housing	Non-housing	Total	Housing	Non-housing	Total
Gross Receipts
Disposal of land and property	4.5	27.0	31.5	15.0	85.0	100.0
Repayment of principal	30.5	2.5	33.0	30.0	3.0	33.3
Sales of council houses	31.9	nil	31.9	33.5	nil	33.5
	66.9	29.5	96.4	78.8	88.0	166.8
Net Receipts
Distributable	28.3	3.4	31.7	48.0	61.7	109.7

Further details of these receipts will be published in the RB's accounts for 1986–87 and 1987–88.

Mr. Tony Banks

asked the Secretary of State for the Environment, pursuant to his reply to the hon. Member for Hampstead and Highgate (Sir G. Finsberg) of 19 March, Official Report, columns 558–60, how much of the estimated £141.4 million of capital receipts is currently held by the London residuary body.

Mr. Chope

The £141.4 million estimate contained in that answer represents the estimated £263.3 million total of capital receipts to be received by the LRB up to 31 March 1988, less amounts to be deducted by LRB for various purposes. The Department does not keep running estimates of total LRB capital receipts.

The Local Government Reorganisation (Capital Money) (Greater London) Order 1987 (S.I. No. 118) required that any capital money available in any financial year should be distributed, so far as possible, by 31 March, with final adjustments being made before the following 30 June. The LRB has notified rating authorities in London that it expects to distribute £31.7 million capital receipts cash entitlements by 31 March 1987.