Consultation and Publicity

Part of Clause 50 – in the House of Commons at 9:45 am on 14th June 1988.

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Photo of John Cummings John Cummings , Easington 9:45 am, 14th June 1988

My hon. Friend referred to urban development corporations. I understand that the profits will go back to the Treasury. We have experience of this both with development corporations looking after housing assets in new towns and with the disposal of industrial assets, where moneys have gone back to the Treasury. None of that money has been directed towards dealing with housing defects in the new towns, nor was the Treasury prepared to release funds for extra finance to further industrial development through the provision of extra factory units. Does my hon. Friend agree that that is a disgrace and that once again the Treasury—Mr. Money Bags—will gain at the expense of tenants?