asked the Secretary of State for the Environment, further to his answer, 18 March, Official Report, columns 157–8, whether the figure of £370 million given for Housing Corporation provision for 1979–80 represents the value of the provision assessed in the light of present estimates of price movements between November 1978 and 1979–80 out-turn prices, or its value on the assumptions current when the provision was made.

The £370 million represents the forecast, expressed at 1979 survey prices, of the consequences of loan approvals issued by the corporation to housing associations, mostly in previous years.