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Recycled Capital Grant

Volume 400: debated on Monday 3 March 2003

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To ask the Deputy Prime Minister what plans he has to require the Housing Corporation to promote greater transparency about the amount and uses of recycled capital grant. [99175]

Registered social landlords (RSLs) are required, by the Housing Corporation, to present accumulated recycled capital grant in their annual accounts. RSLs are expected to consult with the local authorities from whose area grant has been recycled about the use of the recycled capital grant fund (RCGF).

Information on the permitted uses of RCGF is available on the Housing Corporation's website (www.housingcorp.gov.uk). In brief, RSLs may use RCGF for projects that would qualify for new social housing grant. These projects are subject to the same grant rates, cost limits and rents as new grant projects.