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Housing Corporation (Delegation) etc. Bill

We have had a good Third Reading debate and, with the leave of the House, I shall reply to some of the points that have been raised. The hon. Member for Wellingborough (Mr. Bone) has raised today many of the points that he made in Committee. I know that he would have preferred us to wait for another opportunity to introduce the legislation. However, after extensive discussions with the Housing Corporation, the Council of Mortgage Lenders and other stakeholders, it became clear that it would be inappropriate for us to wait any longer, as the uncertainty was giving rise to significant concerns, especially among lenders, about the retrospective decisions. We did not want that uncertainty and anxiety among lenders to have an impact on the day-to-day decisions on the draw-down of loans or the rate at which housing associations can borrow, for example. Such uncertainty could have a serious impact on the viability of those decisions, should those problems start to escalate. We are carrying out a consultation on the Housing Corporation and English Partnerships, but we have not made any decisions at this stage on the right way forward. Any further legislation in that area could therefore still be some way off—if it is to happen at all—and it would be inappropriate to leave the Housing Corporation, and those who depend on social housing held by housing associations, in a state of uncertainty. We have addressed all the different points that have been raised during our debates, either in detailed briefing sessions for hon. Members or in Committee. On that basis I commend the Bill to the House, and speed its passage to the other place. Question put and agreed to. Bill accordingly read the Third time, and passed.