Clause 11 — Use of Capital Receipts

Part of Local Government Bill – in the House of Commons at 11:30 pm on 17th September 2003.

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Photo of Philip Hammond Philip Hammond Shadow Minister (Communities and Local Government) 11:30 pm, 17th September 2003

I suggest to the Minister that in the current housing crisis, every authority receiving capital receipts could use every penny in its area. Let us be clear that authorities are receiving these capital receipts because they are disposing of housing stock. In my opinion and that of my hon. Friends, that implies an immediate need to replace that housing stock. I suggest to him that every authority could use every last penny of the capital receipts that it receives for entirely appropriate purposes in its own area. I also suggest to him that it is appropriate to fund the programmes that the Government have rightly and understandably introduced, and that the Deputy Prime Minister has announced, through general taxation. That is an appropriate way of funding those programmes.