§ Mr. HopkinsTo ask the Deputy Prime Minister what plans he has made to meet the 2010 social housing targets if tenants vote against large scale voluntary stock transfers; and if he will make a statement. [64391]
§ Mr. McNultyThe Government have substantially increased the resources provided to local authorities for housing investment to support delivery of the commitment on decent social housing. Where an authority is unable to fund the works necessary to bring its housing up to a decent standard by 2010 from its own resources and those provided through the Major Repairs Allowance and the Housing Investment Programme, there are three options for additional funding
transfer the housing to a housing association which can access private finance;qualify for additional funding by establishing a high performing arms length management organisation;acquire additional resources through the Private Finance Initiative.The planned ending of direct control of local authority borrowing will also allow increased investment where an authority can meet the additional borrowing costs.
It is for local authorities to decide with their tenants which investment option to pursue and we have extended the role of the Community Housing Task Force to help them with this. If stock transfer is rejected by tenants, then clearly the authority needs to consider which of the other options will enable it to deliver.