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Local Government Finance: Housing

Volume 459: debated on Tuesday 17 April 2007

To ask the Secretary of State for Communities and Local Government what the total housing debt was for each local authority in each year since 1996; how much principal debt was paid off in each year; how the repayments were financed; what the cost was to each local authority of servicing the debt; and how many homes were owned by each authority. (107142)

I have arranged for a table showing the total housing debt for each local authority for each year since 1996 to be placed in the Library of the House. From 2001-02 onwards authorities with no notional housing debt (the assumed housing debt for the purposes of HRA subsidy) were not required to submit this data to Communities and Local Government.

The Department does not collect data on the actual amount of principal housing debt repaid each year. I have arranged for a table showing the amount each authority was obliged to set aside from the disposal of Housing Revenue Account (HRA) assets since 1996 to be placed in the Library of the House. Set-aside does not equate to debt actually redeemed, as local authorities may make a treasury management decision to keep the housing debt on their books rather than repay it, investing the set-aside elsewhere.

The Department does not keep data on how local authorities finance their housing debt repayments, nor does it have data on what the cost was to each local authority of servicing the housing debt. We only have data of the consolidated rate of interest (CRI) which is the average rate of interest a local authority pays across all its borrowing. The CRI for each year is in the table.

I have arranged for a table showing dwellings owned by each local authority for each year since 1996 to be placed in the Library of the House.

To ask the Secretary of State for Communities and Local Government (1) what the (a) elements and (b) totals of housing revenue subsidy were in each year since 1990; and what estimate she has made of each for the next 20 years; (107144)

(2) what housing subsidy has been paid to local authorities with council housing in each year since 1990.

Data for the years 1990-93 inclusive can be obtained only at disproportionate cost. Details of housing revenue account subsidy entitlements for individual authorities separated by main income and expenditure items for the years 1994-95 to 2004-05 inclusive are included in a table that has been deposited in the Library of the House.

No estimates have been made covering the next 20 years.