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London Residuary Body

Volume 170: debated on Friday 30 March 1990

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To ask the Secretary of State for the Environment when the London residuary body will complete its GLC-related business; and if he will make a statement.

The bulk of the London residuary body's remaining GLC-related property, rights and liabilities were today transferred to the London boroughs and other functional successors by an order made under sections 67, 100 and 101 of the Local Government Act 1985. This marks the virtual completion of the residuary body's role in relation to the abolition of the GLC.The residuary body inherited a considerable number of property interests, rights and liabilities, and a wide and complex range of tasks from the former GLC. To date, £184 million in revenue balances and £478 million in capital receipts have been distributed to the boroughs, with more to come. This is an impressive achievement by any standard, and I congratulate the chairman and board members of the residuary body on the effective manner in which they have carried out their tasks. The financial benefits to ratepayers and charge payers of abolishing the GLC are now increasingly apparent.The London residuary body will continue to have responsibility for a limited number of ex-GLC tasks, including the disposal of County hall and the distribution to the London boroughs of the receipts generated. However, its main task from 1 April will be to act as the residuary body for ILEA functions, property, rights and liabilities which are not transferred to inner London boroughs on the abolition of that authority.