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Housing Revenue Accounts

Volume 485: debated on Tuesday 9 December 2008

To ask the Secretary of State for Communities and Local Government what figures were included within the formula to account for provision for debt servicing for those authorities that received positive subsidy under the Housing Revenue Account subsidy system for 2008-09. (241485)

Out of 204 local authorities with a Housing Revenue Account, 178 have the servicing of a notional level of debt, the Subsidy Capital Financing Requirement (SCFR) supported by the HRA subsidy system. The remaining 26 are considered to be debt free and have a zero or negative SCFR. Of the 178 local authorities that have a level of debt supported by the HRA subsidy system 43 are in positive subsidy. In addition those authorities in Rounds 1 and 2 of the ALMO (Arms Length Management Organisation) programme receive an ALMO allowance to support the associated borrowing. For all other ALMOs the support for the associated borrowing is included within the SCFR. The support for debt servicing is then offset against other elements of the subsidy system to determine net subsidy entitlement.

The following table lists the SCFR and ALMO allowance for authorities likely to be in receipt of subsidy for 2008-09.

£

SCFR

ALMO allowance (Round 1 and 2 only1)

Ashfield

34,093,939

4,425,600

Barnsley

132,249,400

11,328,000

Blackpool

33,850,983

0

Blyth Valley

34,843,948

3,868,640

Bolton

131,156,102

12,604,800

Braintree

7,356,989

0

Brent

343,290,867

4,320,000

Camden

523,110,271

0

City of London

13,990,928

0

Derby

111,264,305

7,774,080

Doncaster

219,278,605

0

Ealing

314,717,560

0

Easington

68,691,319

0

Eastbourne

45,731,010

0

Gateshead

266,985,653

0

Greenwich

418,654,476

0

Hackney

702,774,111

0

Hammersmith

384,753,640

0

Haringey

445,710,700

0

Hounslow

164,486,906

7,972,000

Islington

777,567,091

0

Kensington

150,637,763

3,475,120

Kingston-upon-Hull

225,648,897

0

Kirklees

127,168,814

11,984,000

Lambeth

566,740,126

0

Leeds

400,860,237

32,811,124

Leicester

209,008,128

0

Lewisham

372,292,767

0

Liverpool

564,864,169

0

Manchester

693,928,643

0

Newcastle-upon-Tyne

542,135,600

0

Newham

601,918,159

0

Nottingham

272,639,181

0

Oldham

127,656,709

6,912,000

Rochdale

134,476,958

8,504,000

Salford

269,162,203

0

Sheffield

746,430,799

0

South Norfolk2

0

0

Southwark

743,772,141

0

Stockton

85,651,501

5,040,000

Tower Hamlets

427,383,831

0

Waltham Forest

254,266,667

0

Westminster

183,093,347

5,920,000

Wigan

116,422,575

10,984,000

Wansbeck2

0

0

1 A Borrowing associated with later ALMO rounds is incorporated within the SCFR.

2 South Norfolk and Wansbeck have undertaken Large Scale Voluntary Transfer (LSVT) and are likely to receive very small amounts of residual subsidy in 2008-09.

Note:

All these figures are provisional and subject to change later in the financial year.