§ Mr. Llew SmithTo ask the Secretary of State for the Environment what studies his Department has undertaken to evaluate the comparative efficiency of tenant-managed housing associations. [31984]
§ Mr. ClappisonTen case studies comparing tenant management organisations with locally matched social housing managed by local authorities and housing associations were carried out between 1991 and 1994. A report, "Tenants in Control: an evaluation of tenant led housing management organisations", was published last September. A copy is available in the House of Commons Library.
§ Mr. SmithTo ask the Secretary of State for the Environment what is his policy on investments by housing associations in derivatives. [31985]
§ Mr. ClappisonHousing associations are allowed to use derivatives only in order to reduce risk and, in particular, the risk of interest rates fluctuating. Each derivative transaction must match a corresponding identified risk. Speculation is not permitted. Guidance on investment in derivatives by housing associations is set out in Housing Corporation circular 11/95.