§ Lord Hyltonasked Her Majesty's Government:
What sums are held by local authorities (or on their behalf) arising from the sale of council houses or flats which they are prevented from using for housing or other capital purposes now and in each of the previous four years.
§ The Parliamentary Under-Secretary of State, Department of the Environment (Baroness Blatch)Figures on accumulated housing receipts held by local authorities at 31st March 1990 are not yet available. Under the new local authority capital finance system 75 per cent. of the unapplied receipts held at that date had to be set aside as provision for credit liabilities and the remaining 25 per cent. could be spent at any time by the authority. Figures for earlier years on receipts from council house sales show the total received in each year. In England these were: in 1986–87, £1,275 million; in 1987–88, £1,715 million; in 1988–89, £2,772 million; in 1989–90, £2,668 million (provisional outturn). Under the legislation in force at that time 20 per cent. of the balance of the authority's capital receipts from council house sales could be spent on prescribed capital expenditure in any year.