§ Mr. KirkwoodTo ask the Secretary of State for Wales how much money has been raised from the sale of council houses in Wales since 1979; what percentage of this money is still held in reserve by local authorities; and if he will make a statement. [17132]
§ Mr. Jonathan EvansAt 31 March 1996, the total amount raised by local authorities from the sale of council houses since the inception of the right to buy scheme in 1981 was £993 million. It is not possible from local authority returns to separate the amounts held in reserve from the sale of council houses from other capital receipts held in the housing revenue account. Capital receipts held in the housing revenue account at 31 March 1996, both set aside against credit liabilities and usable-as defined in section 60 of the Local Government and Housing Act 1989—totalled £246 million.