§ Mr. HoyleTo ask the Secretary of State for the Environment, Transport and the Regions what assessment he has made of the impact of the capital receipt initiative on the availability of housing in the North West region. [68517]
§ Mr. RaynsfordThe forty three housing authorities in the North West received a total of £101 million under the Capital Receipts Initiative (CRI) in 1997–98 and 1998–99 (£22.4 million and £78.6 million respectively). Returns from authorities show that over the two years around 70 per cent. of the resources are being used to refurbish and improve Council housing stock. The remaining resources are supporting Registered Social Landlord activity, including provision of new units, through Local Authority Social Housing Grant (9 per cent.), renovation grants and home repair activity in the private section (15 per cent.) and other housing-related regeneration activity (6 per cent.). The North West's total CRI allocation for 1999–2000 is £78.6 million.