Power to Give Financial Assistance

Part of Clause 50 – in the House of Commons at 5:45 pm on 14 June 1988.

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Photo of Ian McCartney Ian McCartney , Makerfield 5:45, 14 June 1988

That highlights my point about selling assets to the private sector and then giving it the resources to use the land for its own purposes, whether to create something for the community or purely to make profits. In many areas, especially in the north of England and in parts of industrial Wales, north-east England and London, huge tracts of derelict land are available as a natural resource and massive profits can be made overnight through speculation and transfers of ownership. A major example is the way in which the docklands development has transferred derelict land assets from the community to the private sector. [Interruption.] That must be the 25th or 26th time that the hon. Member for Harrow, West (Mr. Hughes) has made a childish jibe from a sedentary position. If he wishes to contribute to the debate, I will give way to him.