HC Deb 11 March 1992 vol 205 cc519-20W
Mr. Rowe

To ask the Secretary of State for the Environment whether he has any changes to announce to his Department's cash limits for 1991–92.

Mr. Yeo

Yes. I propose to make the following changes:

  1. (i) The non-voted cash limit for DOE/OES will be increased by £478,000 from £93,894,000 to £94,372,000. This results from the provision of additional supplementary credit approvals to enable local authorities to raise finance to fulfil their obligations to contribute part of the cost of certain roads built by the Commission for the New Towns and new town development corporations in England. The increase will be wholly offset by a counterbalancing new towns receipt (see (iii)(b) below).
  2. (ii) The non-voted cash limit for DOE/LACAP will be increased by £89,260,000 from £3,019,202,000 to £3,108,462,000. This results from the provision of additional supplementary credit approvals to enable Milton Keynes BC and The Wrekin DC to raise finance to purchase housing stock from Milton 520 Keynes Development Corporation and Telford Development Corporation respectively. This increase is also wholly offset by counterbalancing new town receipts (see (iii)(b) below).
  3. (iii) The non-voted cash limit for DOE/NT (New Towns) will be increased by £95,262,000 from minus £449,800,000 to minus £354,538,000. This net increase is the result of the following individual changes:
    1. (a) an increase of £185,000,000, reflecting the effect on receipts of the present state of the property market. This increase will be charged to the reserve and will therefore not add to the planned total of public expenditure;
    2. (b) reductions of £478,000 and £89,260,000 respectively resulting from additional receipts from local authorities financed by the cash limit increases described in (i) and (ii) above.
  4. (iv) The external finance limit for Letchworth Garden City Corporation will be increased by £231,000 from minus £500,000 to minus £269,000. This reflects changes in the corporation's financing profile as a result of the continuing depression in the property market.