§ Mr. SimpsonTo ask the Secretary of State for the Environment what percentage of his Department's budget is allocated to initiatives which have been undertaken to secure private finance for his Department's projects. [22798]
§ Sir Paul BeresfordThe Department and its sponsored bodies seek to maximise the amount of private finance it raises to assist in the implementation of a wide variety of programmes, most notably in housing, inner cities and urban regeneration. Over 60 per cent. of the Department's discretionary expenditure—excluding demand led programmes such as housing revenue account subsidy—is on programmes which attract private finance. The Department expects to generate some £4 billion of private investment this financial year.