§ Dr. Lynne Jones
To ask the Secretary of State for the Environment, Transport and the Regions what resources are available to his Department to make one-off payments to cover overhanging debt following the transfer of local authority housing stock in(a) 1999–2000, (b) 2000–01 and (c) 2001–02. 232W
§ Mr. Mullin
There are proposals within the Spring Supplementary Estimates to allow for £25 million to assist with the repayment of overhanging debt in the current financial year. The sum required in future years will depend on Ministers' decisions in response to applications for a place on the housing transfer programme from local authorities with overhanging debt. The Government's contribution to extinguishing overhanging debt will be by taking on an agreed amount of a local authority's outstanding debt principal, rather than through the use of programme resources.