§ Mr. Nigel EvansTo ask the Secretary of State for the Environment if he will make a statement about the forthcoming finance, management and policy review of the Housing Corporation.
§ Mr. CurryAs part of the Government's programme of regular five-yearly finance, management and policy reviews of non-departmental public bodies my Department will conduct a thorough review of the Housing Corporation beginning on 3 January 1995. The first stage of the review will take the form of a prior options study. This will assess the extent to which the corporation's functions are necessary for the achievement of the Government's policies, and whether there is scope for privatising, contracting out, or transferring all or part of its functions to another body. The study will take into account Government's continuing support for a programme of new lettings at subsidised rents delivered through housing associations.
The progress made by the corporation since the previous review in 1990 will be examined and the results of that examination and of the prior options study will inform a detailed review of the corporation's policy and financial management systems.
To minimise the uncertainty the prior options study will cause, I expect that study to be completed within four months. The time required for the more detailed review cannot be foreseen, but I would expect it to last no longer than eight months.
In carrying out the study my Department will consult widely with housing organisations and others with an interest in the corporation's work.