---

Housing and Regeneration Bill

Before I give way, let me quote from my right hon. Friend's written ministerial statement. These are the principles on which we need to undertake a review on council house financing:"““This system should be fair to both tenants and taxpayers. It should be transparent, giving a clear and accurate picture of the balance of support from local and central Government. It should enable delivery of agreed standards of service and accommodation. It should recognise that social rents should help tenants gain and retain work, whilst acknowledging the need for landlords to improve the quality and efficiency of services. And it should be affordable and not expose Government to unacceptable fiscal risks.””—[Official Report, 12 December 2007; Vol. 469, c. 34W.]" Those are the principles on which we need to move forward; they are based on the good work of the Audit Commission in its 2005 report on financing council housing.