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Community Land Accounts

Volume 979: debated on Wednesday 20 February 1980

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asked the Secretary of State for the Environment if he will make a statement on the arrangements for closing local authorities' community land accounts.

Following consultations with the local authority associations my right hon. Friend has amended the community land accounts directions. A guidance note is being sent to all local authorities in England today.The main effect is to require authorities to credit to their community land accounts the current market value at 31 March 1980 of all interests they still hold in community land at that date, and thereupon to close the accounts. Half of any resultant surplus will be retained by the authority making it, and the other half will be redistributed to authorities in deficit. In the special circumstances of these final accounts, no share will be taken by the Exchequer.Details of the arrangements are given in the Guidance Note (GNLA/22), copies of which are being placed in the Library.