Skip to main content

Housing: Local Government Finance

Volume 473: debated on Wednesday 12 March 2008

To ask the Secretary of State for Communities and Local Government whether all funding from local authorities for redistribution under the Housing Revenue Account programme is ring-fenced for housing projects led by her Department; and if she will make a statement. (192795)

Currently, all assumed surpluses that are captured by the housing revenue account subsidy system are redistributed to authorities with assumed deficits and paid into individual authorities’ housing revenue accounts. The housing revenue account is ring-fenced and authorities can only use these resources for the upkeep of their own housing stock. In the current year Government are forecast to make a net contribution to the overall subsidy system.