Clause 26
Housing and Regeneration Bill
5:45 pm
George Young (North West Hampshire, Conservative)
I have a simple question for the Minister. He referred to the borrowings of the organisations that will form the HCA—the Housing Corporation, English Partnerships and the Commission for the New Towns—and I think he said that there were some outstanding borrowings in some of those organisations. Will those borrowings be rolled into the borrowings of the HCA, or will the HCA start with a blank sheet of paper so that the £2,300 million will refer only to liabilities that it itself incurs? Will it have responsibility for the debts of its predecessor organisations?