HOUSING REVENUE ACCOUNT SUBSIDY SYSTEM

That this House recognises that Welsh councils paid in excess of £80 million in housing revenue to the Treasury in 2008-09 under the unfair housing revenue account subsidy system; welcomes the admission by the new Housing Minister on 10 June 2010, Official Report, column 453, that there are problems with the operation of the present scheme in England and in Wales, and also his agreement that this money would be better used if re-invested locally; notes that this system is currently under review; calls for the ending of this iniquitous system, which penalises local authorities for administering their housing budgets effectively; believes that scrapping the housing revenue account subsidy system would assist Welsh local authorities to retain their housing stock, help them meet the Welsh Quality Housing Standard, boost affordable housing construction, stimulate economic activity and create local jobs; and calls on the relevant Government ministers to meet with their Welsh Assembly Government counterparts on any further decisions relevant to the housing revenue account subsidy system.