To ask the Secretary of State for Communities and Local Government what the national level of housing revenue account subsidy was in each year since 1990; and what it is projected to be in each of the next 15 years, using the same assumptions which have been made for the housing revenue account pilot opt-outs.
A table showing the national level of housing revenue account (HRA) subsidy from 1995-96 to 2006-07 (the last year for which audited data is available) is as follows.
The table shows the value of the 'bricks and mortar' element of HRA subsidy. Prior to 2004-05, HRA subsidy also contained a rent rebate element. This is omitted from the table to ensure consistency with post 2004-05 data. Prior to 2004-05, surpluses in the 'bricks and mortar' element were applied to the cost of rent rebates for local authorities.
|HRA Subsidy (£)|
Pre 1995-96 data are available only at disproportionate cost.
As part of the self financing modelling exercise some broad forecasts of future HRA subsidy entitlement were generated at a national level. These forecasts were based upon a number of assumptions about factors such as the number of dwellings in the HRA subsidy system, interest rates and rates of inflation. The forecasts are highly sensitive to changes in any of these assumptions. They are based upon the 2007-08 HRA subsidy system.
The forecast subsidies generated were as follows:
|HRA subsidy (£ million)|