HC Deb 24 January 1994 vol 236 cc27-8W
Mr. Callaghan

To ask the Secretary of State for the Environment what recent representations he has received alleging a shortage of affordable rented accommodation.

Sir George Young

I have received a number of representations suggesting that the reduction in Housing Corporation's planned expenditure announced in November's Budget will result in a reduction in the number of affordable rented homes to be provided.

Despite the cuts, the Housing Corporation's gross capital expenditure in 1994–95 will amount to almost £1,520 million, the corporation's fourth largest budget since housing association grant was introduced in 1974. This will enable at least 58,000 new homes to be provided in 1994–95, bringing the total over the three years to 1994–95 to 178,000. Furthermore, the corporation believes that, because of reductions in procurement and borrowing costs, and greater emphasis on cost-effective home ownership schemes, it should still provide 154,000 homes, over the three years 1993–94 to 1995–96, as it forecast last January.