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Local Government: Assets

Volume 497: debated on Thursday 22 October 2009

To ask the Chancellor of the Exchequer pursuant to the written ministerial statement of 12 October 2009, Official Report, columns 23-8WS, on sale of Government assets, whether any receipts of proposed sales of local authority assets will accrue to the Exchequer. (293673)

Excepting certain receipts from the sale of housing land and dwellings that are required to be pooled centrally or surrendered, English local authorities are free to use capital receipts from asset sales to support capital investment, repay debt, invest to earn interest or any combination of these. The decision rests with the local authority concerned.