Housing Stock

Part of Oral Answers to Questions — Environment – in the House of Commons at 12:00 am on 18th May 1988.

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Photo of Hon. Nicholas Ridley Hon. Nicholas Ridley , Cirencester and Tewkesbury 12:00 am, 18th May 1988

I said earlier that local authorities may spend 20 per cent. of their housing receipts per year, which means that they can spend money, but over a period of time. That sum, together with the allocations, results in the high total of about £6 billion a year for local authority capital investment. I do not believe that the hon. Gentleman has noticed that both figures should be added to give the real total.