Clause 9 - Capital Receipts
Local Government Bill
3:15 pm
Mr Nick Raynsford (Minister of State (Local and Regional Government), Office of the Deputy Prime Minister; Greenwich and Woolwich, Labour)
We do not think that that will happen in practice, because in large transactions involving land and property the receipt normally comes in immediately. However, we shall take the hon. Gentleman's anxiety into account in framing the pooling regime. It is not our intention that an authority should be penalised by being required to make a payment to the Secretary of State before it is in a position to do so. With that reassurance, I hope that the hon. Gentleman will agree that the clause should stand part of the Bill.
Question put and agreed to.
Clause 9 ordered to stand part of the Bill.