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Covent Garden Market Scheme (Finsbury Site)

Volume 640: debated on Friday 19 May 1961

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asked the Minister of Agriculture, Fisheries and Food what consultations he has had with the London County Council about the purchase of the site of the St. Luke's Printing Works in Finsbury for the Covent Garden Market scheme.

I have discussed with the London County Council the position arising from the amendments to the Covent Garden Market Bill. It is still under an obligation to complete the purchase when the price has been determined. I have agreed that if the site is not needed by the Covent Garden Market Authority within a reasonably short time and has to be resold by the London County Council any resulting profit or loss would accrue to or be borne by the Exchequer. In the event of a loss I would propose to seek Parliamentary authority to obtain the necessary financial provision to repay the London County Council.