Recycled Capital Grant

HC Deb 03 March 2003 vol 400 cc865-6W

Ms Oona King

To ask the Deputy Prime Minister what plans he has to require the Housing Corporation to promote greater transparency about the amount and uses of recycled capital grant. [99175]

Mr. McNulty

Registered social landlords (RSLs) are required, by the Housing Corporation, to present accumulated recycled capital grant in their annual accounts. RSLs are expected to consult with the local authorities from whose area grant has been recycled about the use of the recycled capital grant fund (RCGF).

Information on the permitted uses of RCGF is available on the Housing Corporation's website (www.housingcorp.gov.uk). In brief, RSLs may use RCGF for projects that would qualify for new social housing grant. These projects are subject to the same grant rates, cost limits and rents as new grant projects.