Power to Give Financial Assistance

Part of Clause 50 – in the House of Commons at 4:30 pm on 14 June 1988.

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Photo of Ian McCartney Ian McCartney , Makerfield 4:30, 14 June 1988

I congratulate my hon. Friend the Member for Newham, South (Mr. Spearing) who, in an assiduous manner—displayed these past 24 hours—has extracted the hidden agenda of the HAT proposals.

After the debates in Committee, I believe that there is a danger of what can be described only as a slush fund. The Under-Secretary is yawning once again, but she and the Minister of State made it clear that HATs were about transferring millions and sometimes multi-million sums of public assets to unelected organisations with a responsibility for disposing of those assets. The profit from the disposal of the assets would go to the national Exchequer, not back to the local community, which built up the assets in the first place. In the legislation, we are seeing the possible preparation of a slush fund.