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Volume 477: debated on Thursday 19 June 2008

To ask the Secretary of State for Communities and Local Government what assessment she has made of the effect of economic conditions and the state of the credit market on trends in the rate of letting retail properties in urban redevelopment projects; and if she will make a statement. (206856)

We are closely monitoring the property market to assess the impact of the global credit problems. While there is some concern about the potential impact of the credit crunch on future urban redevelopment, rates of lettings will depend on local market conditions and the ability of the redevelopment scheme to compete with other locations. We will continue to look at what action needs to be taken.