§ Mr. Hordern
asked the Secretary of State for the Environment what is his estimate of the extra cost of his proposals in the Housing Rent and Subsidies Bill for the year 1975–76 compared with the estimates of the cost of existing subsidies.
§ Mr. Freeson
It is estimated that, it the rent progression had continued as provided for in the Housing Finance Act 1972, the subsidies paid to local authorities' housing revenue accounts would have amounted to about £650 million in England and Wales. The new subsidies proposed in the Bill as replacements will, it is estimated, cost about £700 million.