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Housing: Finance

Volume 458: debated on Monday 26 March 2007

To ask the Secretary of State for Communities and Local Government what estimate the Government have made of the net deficit or surplus of housing revenue accountable authorities following the 2007-08 housing subsidy determination. (128320)

[holding answer 19 March 2007]: The 2007-08 HRA Subsidy Determination calculates allowances that each local authority will receive and also makes assumptions on notional rental income. But to calculate the subsidy entitlement that a local authority will receive from, or pay out to, the Exchequer other authority-specific factors are required such as the average rate of interest on their borrowing. These specific factors are only applied when the local authority makes their claims for subsidy during 2007-08. We will not have a final audited subsidy figure for 2007-08 for each local authority until 2009. The most up-to-date audited actual subsidy entitlement figures we have are for 2005-06.