§ Mr. DunnTo ask the Secretary of State for the Environment what proposals he has for financing the expenditure of English Partnerships.
§ Sir George YoungThe expenditure of English Partnerships—the urban regeneration agency—will be financed by grant-in-aid and receipts which include those from the sale of capital assets for reinvestment in its programmes. In 1994–95, capital receipts are expected to amount to £78 million. Any such receipts in excess of £86 million will be surrendered to the Consolidated Fund. This arrangement is set out in the introductory note to the supply estimate for class VII, vote 3—regeneration initiatives, England—from which the grant-in-aid will be paid.