§ The Parliamentary Under-Secretary of State (Mr. Tony McNulty)The Office of the Deputy Prime Minister is about to go out to consultation on a proposal to amend the Local Authority (Capital Finance) Regulations 1997 to allow local authorities to use up to 100 per cent. of the capital receipt they receive from the disposal of certain housing assets, excluding right to buy sales and large and small scale voluntary transfers, for the provision of affordable housing.
The consultation paper and draft regulations may be found on Office of the Deputy Prime Minister's web-site at http://www.odpm.gov.uk. Copies of the consultation paper have also been placed in both house libraries.