HC Deb 10 June 1996 vol 279 c52W
Mr. Gordon Prentice

To ask the Secretary of State for Education and Employment in respect of which educational assets he proposes to allow local authorities to sell and retain 75 per cent. of the capital receipts. [31755]

Mr. Robin Squire

It is for local authorities to determine whether to take advantage of the reduction from 50 per cent. to 25 per cent. in the level of capital receipts to be set aside for debt redemption from sales of surplus educational assets obtained between 1 April 1996 and 31 March 1998. This reduction is intended primarily to facilitate and encourage private finance initiative activity in local government.