County Residents Missing Out on £50m Investment

Demands have been made for changes to the current rules regarding the housing revenue account after work by Jonathan Edwards MP uncovered that Carmarthenshire County Council has been forced to repay around £51m to the UK Treasury since 1999/00. Under the Housing Revenue Account Scheme any money made by Councils from housing stock must be returned to the Treasury, rather than used within the local authority for such issues as developing new housing.

The Plaid politician has discovered that the county has missed out on a total of £50,915,322 between 1999/00 and 2010/11 with an expected £5.78 per year for the next three years. Wales as a whole has lost out on over a billion with the money being diverted to local authorities in England.

Jonathan Edwards MP said:

“It is staggering to think that around £51m that could have been spent on new housing stock for the county but has instead been sent back to the Treasury. It is a national scandal that Wales is missing out on huge amounts of money. Carmarthenshire is crying out for affordable housing yet they are being denied money that could transform the area. I am sickened that Labour has played a part in this and has allowed such a huge amount of money to be taken from Carmarthenshire and Wales without doing anything to oppose it. That this has happened during a time when Labour were in power only highlights how little they have done for Wales.”

Rhodri Glyn Thomas AM said:

“We have raised this issue in a meeting with the Chief Executive of the Council and are pleased that he was supportive of our position. I am sure there would be a united level of support from the council for our proposals to change the rules regarding the Housing Revenue Account, in order to ensure that this vitally needed money can be used to its maximum potential here in the county.”

ENDS / DIWEDD

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