HL Deb 26 July 1993 vol 548 cc92-3WA
Lord Howie of Troon

asked Her Majesty's Government:

Following the statement by the Prime Minister on 23rd June 1993 relating to the Copenhagen European Council:

  1. (a) what they are planning to do about the opportunity announced by the European Community on bringing forward public investment, particularly in infrastructure;
  2. (b) in view of the promotion of housing investment mentioned in the statement what are their plans in relation to the £6 billion which is held in relation to the sale of council houses;
  3. (c) to what extent the United Kingdom is to be involved in the schemes amounting to 30 billion ecus for designing and building infrastructure projects over a 10 year period announced by the Commission President.

The Minister of State, Department of Transport (The Earl of Caithness)

The United Kingdom Government intends to play a full part in the promotion of economic growth and cohesion, and of the effective functioning of the internal market. The UK has already started to use the new loan facilities agreed at the European Council in Edinburgh. The Commission have yet to table formal proposals to extend these facilites. The Government's commitment to infrastructure investment was demonstrated clearly in the Autumn Statement, and through the initiatives encouraging greater use of private finance in infrastructure programmes.

Future plans for public spending are currently under discussion as part of the annual Public Expenditure Survey. The results of these discussions will be announced by the Chancellor of the Exchequer in his Budget in November.

We have no plans to allow local authorities to spend the capital receipts they have set aside for debt redemption. But once their debts are repaid, authorities have considerable freedom to use those receipts for capital expenditure.