§ Sir John StanleyTo ask the Secretary of State for the Environment in what areas of his Department's responsibilities he has introduced, or may introduce, private finance; and if he will describe in each case the procedures by which private finance is sought.
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§ Mr. Howard[holding answer 17 December 1992]: I welcome any suggestions for private finance that the private sector puts forward, provided they are consistent with the Treasury guidance published on 9 December.
Much inner cities spending is targeted on levering in private finance through grant applications and competition between developers. The Minister for Local Government and Inner Cities expects to issue shortly a list of further opportunities. The Rural Development Commission and other countryside bodies draw in private finance in their areas through both loan and grant applications. All these applications both have to meet testing criteria, and to compete for limited available public funds. In Property Holdings civil estate business, private finance is used through property leasing. In social housing, the housing association movement uses leading city firms to draw in loan finance from financial institutions.