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Local Authorities (Receipts)

Volume 129: debated on Wednesday 9 March 1988

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To ask the Secretary of State for the Environment if he will publish the information he has collected on the accumulated capital receipts held by local authorities at the end of 1986–87.

My Department has now received accumulated capital receipts returns for 1986–87 from 97 per cent. of English local authorities. On the basis of these it is estimated that at the end of 1986–87 local authorities in England held accumulated receipts giving rise to spending permission in later years of £9·4 billion. Some of these receipts were notional, such as leasing disposals. The cash from much of the remainder had been used for such purposes as repaying debt and financing capitalised housing repairs. After allowing for such factors, only £5·3 billion out of the £9·4 billion spending permission could be converted to cash.I have today placed in the Library, a table showing for each local authority which has provided a return

(a) the accumulated receipts giving rise to spending permission and (b) the amount which could be converted into cash.