Clause 11 - Use of capital receipts
Local Government Bill
9:45 am
Mr Nick Raynsford (Minister of State (Local and Regional Government), Office of the Deputy Prime Minister; Greenwich and Woolwich, Labour)
My quibble is not with the overall concept that the hon. Gentleman is setting out—which I agree with—but with the wording. Our concept is to ensure that debt-free authorities are treated in exactly the same way as all other authorities, and that a proportion of capital receipts from right-to-buy sales are put into the pool, as they are with all other authorities. We are not taking them away from debt-free authorities, but applying to those authorities the same principle as applies to other authorities.