HC Deb 21 February 1995 vol 255 cc116-7W
Sir David Steel

To ask the Secretary of State for Scotland what is his estimate of the effect on local authority investment of the ending of the provisions whereby notional capital receipts can be generated from 21-year leases of capital assets.

Mr. Lang

Outturn information for the latest available year, 1993–94, shows authorities raised £34.8 million of notional capital receipts. This represented 3.5 per cent. of their total expenditure in that year on non-housing programmes. Local authorities' financial plans for 1995–96 indicate that authorities expected to raise £27.9 million of notional capital receipts in 1995–96, representing just over 2 per cent. of their total planned expenditure of around £1,200 million on their non-housing programmes.