§ Mr. Thomas Cox
asked the Secretary of State for the Environment what limit there is as to the price a borough council can pay to purchase an empty property within its borough; and if he will make a statement as to the financial help his Department can give to such a purchase.57W
§ Mr. Eyre
Loan approval is normally available to a local authority for the purchase of existing buildings, provided the price does not exceed the amount certified by the district valuer.
Subject to that proviso, the annual loan charges on the capital cost of existing dwellings purchased under Part V of the Housing Act 1957 for addition to an authority's housing stock are reckonable expenditure for rising costs subsidy under the Housing Finance Act 1972.