§ Mr. Frank FieldTo ask the right hon. Member for Selby, representing the Church Commissioners, how the proceeds of selling the commissioners' holding in the Birkenhead precinct have been reinvested.
§ Mr. AlisonProceeds from sales of commissioners' property are, generally speaking, applied towards the consolidation of the investment portfolio. Recent sale proceeds, including those from Grange precinct, have been used mainly to fund the remainder of the commissioners' development programme and to reduce borrowings.