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Housing: Finance

Volume 473: debated on Wednesday 12 March 2008

To ask the Secretary of State for Communities and Local Government pursuant to the answer to the hon. Member for Great Grimsby of 17 December 2007, Official Report, columns 1140-1W, on housing: finance, for what reasons her Department's capital investment in (a) council-owned housing stock and (b) home ownership schemes in relation to housing associations was less in 2006-07 than in each of the previous three years. (182177)

The overall investment in housing has increased year on year up to and including 2006-07. There are a number of reasons why there was a reduction in the level of capital investment in council owned stock in 2006-07: reduced stock numbers; a separation of monies for private sector renewal from the funding stream that previously combined this funding with that for council housing stock; and the recommendations of regional assemblies on the allocation of available resources for new build affordable housing (including low cost home ownership schemes) and investment in existing stock.