Mr. Robert G. HughesTo ask the Secretary of State for the Environment when he expects to lay before Parliament the 1987–88 annual reports and accounts of the London and metropolitan residuary bodies; and if he will make a statement.
§ Mrs. Virginia BottomleyThe 1987–88 annual reports and statements of accounts of the London and metropolitan residuary bodies were laid before Parliament today. A copy of the Secretary of State's direction under section 78(2) of the Local Government Act 1985 as to the content and structure of the accounts has been placed in the Library of the House.
All the residuary bodies' reports demonstrate the impressive progress which has been made in discharging the functions inherited from the Greater London council and the metropolitan county councils. Particularly valuable contributions have been made in the disposal of surplus property. Over £219 million in capital receipts were realised from sales of surplus property in 1987–88 alone.
Mr. Robert G. HughesTo ask the Secretary of State for the Environment when the first residuary body will complete its work and be wound up; and if he will make a statement.
§ Mrs. Virginia BottomleyTyne and Wear residuary body was formally wound up today by an order made under section 67 of the Local Government Act 1985. The order transferred the remainder of the RB's property, functions, rights and liabilities to successor authorities, the city of Newcastle upon Tyne and the metropolitan districts of Gateshead, North Tyneside, South Tyneside and Sunderland, on 11 October 1988. Its final report is being laid before Parliament today.
The Tyne and Wear residuary body is the first of the seven residuary bodies to wind up. Much credit goes to the chairman, board members and staff for their work in winding up the affairs of the former Tyne and Wear metropolitan county council in such a relatively short period of time with the full co-operation of the district councils. The residuary body has achieved a great deal in a short time. During the two and a half years since abolition it has sold, or transferred to successor district 539W authorities, some 10,000 former county council property interests, generated and distributed £10.3 million of capital receipts, with a further £2.8 million still to be received by successors from sales which have not yet reached completion. This is in addition to the distribution of some £11 million in revenue balances and £2.5 million of capital receipts previously held by the former county council.
The other five metropolitan residuary bodies and the London residuary body are all on target to complete their work well within the statutory time scales.