§ Mr. FatchettTo ask the Secretary of State for the Environment how much has been spent by each urban development corporation on acquiring land and buildings since their inception; how much has been received by each for the sale of land and buildings; and what is the latest valuation of their land holdings.
§ Sir Paul Beresford[holding answer 8 February 1995]: Expenditure and receipts in respect of the acquisition and sale of land and buildings for each urban development corporation from inception until 31 March 1994, are given in the table. The value of development assets, which comprise both land and buildings at the lower of cost or net realisable value, are given as at 31 March 1994. The expenditure figures include purchase of land for use on infrastructure projects, for open space and for environmental improvements. Such expenditure is part of the regeneration remit of UDSs, but is unlikely of itself to produce receipts. It is therefore misleading to make a comparison between expenditure and receipts.
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£ million Expenditure Receipts Development assets Bristol1 43.900 18.779 18.894 Black Country2 92.358 6.606 50.452 Birmingham Heartlands 11.076 0 4.937 Central Manchester 19.095 1.043 7.465 Leeds 25.628 10.997 3.880 London Docklands 174.070 335.000 37.402 Merseyside 41.716 11.756 27.681 Plymouth 4.836 0 3.212 Sheffield 35.873 2.348 14.336 Teesside 65.844 42.273 25.195 Trafford Park 54.854 12.955 15.556 Tyne and Wear 41.934 10.041 36.737 1 Includes £10.7 million expenditure for the Bristol Spine Road. 2 Includes £26.69 million expenditure on highway schemes.