§ Mr. Geoffrey RobinsonTo ask the Secretary of State for Education and Science if he will bring forward proposals to permit local education authorities to reinvest 100 per cent. of capital receipts associated with the sale of assets used for educational purposes.
§ Mr. KeyI have been asked to reply.
The Government have no plans at present to make changes in the debt redemption rules of the local authority capital finance system. Local education authorities are already permitted to reinvest up to 100 per cent. of capital receipts associated with the sale of land and buildings used for educational purposes in the acquisition of land or buildings for educational purposes in the same area.