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Council Housing: Finance

Volume 506: debated on Monday 1 March 2010

To ask the Secretary of State for Communities and Local Government what percentage of the funding announced for the Local Authority New Build scheme (a) at the Budget 2009 and (b) in the Housing Pledge is to be financed through (i) grants and (ii) borrowing. (318719)

The funding announced under the Local Authority New Build programme is 50.3 per cent. grant and 49.7 per cent. prudential borrowing. This is close to the 50:50 that was anticipated when the programme was first launched. Local Authority New Build is a single programme. Funding was first announced in the Budget 2009 and significantly increased by the Housing Pledge.