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Capital Receipts

Volume 32: debated on Thursday 25 November 1982

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asked the Secretary of State for the Environment if he will provide details of the assumptions, including the number of council house sales, behind his assumption for capital receipts for (a) 1982–83 and (b) 1983–84.

[pursuant to his reply, 15 November 1982, c. 78]: The assumptions made about English local authorities' housing capital receipts for 1983–84 and those made last year for 1982–83 are as follows:

Local Authorities' Housing Capital Receipts*
£ million
Local authorities1982–831983–84
1. Receipts from sale of land90100
2. Initial receipts from sale of dwellings651737
3. Payments of sums outstanding on sales80190
4. Repayments of loans to private persons231240
5. Repayments of loans to housing associations1225
6. (sum of 1 to 5)1,0641,292
*Assumptions underlying estimates of capital receipts:
number of completed sales165,000140,000
average selling price, net of discount£10,400£11,150
average level of private financing38 per cent.47 per cent.
The prescribed proportions of receipts, which local authorities may use to increase their allocations, were assumed to be £593 millions in 1982–83 and £684 millions in 1983–84.