§ Dame Angela RumboldTo ask the Secretary of State for the Environment what advice he gives to housing associations on the appropriate level of finance from the private sector.
§ Sir George YoungThe Government do not give specific advice on the appropriate level of private finance to 97W housing associations. However, our objective is to increase the proportion of private finance input to new housing association schemes in order to get the maximum output from public resources.
§ Dame Angela RumboldTo ask the Secretary of State for the Environment what plans he has to reduce the grant rates to housing associations; and what estimate he has made of the effect of his plans on rent levels.
§ Sir George YoungOur objective is to increase the proportion of private finance input to new housing association schemes by reducing grant rates to 60 per cent. in 1994–95 and 55 per cent. in 1995–96.
Final decisions will be taken when Ministers have considered all the relevant evidence, including the likely impact on rents.
§ Dame Angela RumboldTo ask the Secretary of State for the Environment what plans he has to allow housing association tenants the right to buy.
§ Sir George YoungThe right to buy is already available to secure tenants of housing associations, except in cases where the association is a charity: there are no plans at present to extend this statutory right. Associations may, however, sell to tenants on voluntary terms. There is also an alternative scheme for promoting home ownership to housing association tenants—the tenants incentive scheme —under which they may be eligible to receive a grant to help them purchase a home in the owner-occupied sector. Similarly, the do-it-yourself-shared-ownership scheme is available to eligible housing association tenants who wish to pursue the shared equity route towards home ownership.