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Orders of the Day — Local Government Finance

Part of the debate – in the House of Commons at 6:59 pm on 1st February 1995.

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Photo of Don Foster Don Foster Shadow Spokesperson (Education) 6:59 pm, 1st February 1995

I am grateful to the hon. Gentleman for his intervention, because it gives me the opportunity to remind him that the sale of assets does not immediately make available to the local authority the whole of the proceeds. The Government limits the amount that can be spent. I hope the hon. Gentleman agrees that, when assets are sold, the most useful use for the proceeds is to create new assets for the local authority.