§ 25. Mr. Jonathan EvansTo ask the Secretary of State for the Environment what proposals he has for extending shared ownership in the social housing sector.
§ Mr. GummerThe Housing Corporation's Approved Development Programme for 194–95, announced in December of last year, will provide £191.1 million for shared ownership schemes. This is expected to rise to £316.6 million in 1996–97. This will represent 21 per cent. of the Housing Corporation's Approved Development Programme compared with only 7 per cent. in 1992–93.
The Housing Corporation estimate that this will enable them to provide between 8,500 and 10,500 new homes under shared ownership in 1994–95 rising to between 11,700 and 13,900 by 1996–97. In many cases existing housing association and local authority tenancies will be released for reletting to people in housing need.