Wednesday, 27 January 2010

Council House Financing Parliamentary Oral Answer

Simon Hughes MP (Liberal Democrat, North Southwark and Bermondsey): Would Ministers be sympathetic to the request from local councils-such as mine in Southwark, where 43 per cent. of homes are social housing and one third are council properties-to be able to restructure their debts, often on properties that no longer exist? In Southwark''s case, the repayment figure comes to £43 million. If we are going to build more homes and refurbish homes, we need help so that we do not spend all our money paying off debts on homes that no longer exist.
Ian Austin MP (Parliamentary Under-Secretary of State for CLG): That is exactly why we have published proposals to restructure council house finance debt, and I look forward to the Liberal Democrats'' support for those proposals.


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