asked the Minister for the Environment if the anomaly whereby pre-July 1973 local authority tenant purchasers who commenced purchasing by annuity, and subsequently bought outright, do not qualify for the cash rebate payable to those who purchased outright in the first instance is to be removed; if so, when the repayments are likely to take place; if he will give an outline of the formula by which the amount of rebate will be reached; and if he will explain the reason for the anomaly in the first place.
Written Answers. - Tenant Purchase Scheme.
147.
A concession to certain tenant purchasers under pre-July 1973 schemes was granted by the former Government in May 1977. This concession did not, however, extend to outright purchasers or to tenants purchasing by annuity who had redeemed their annuity. No doubt the Deputy is aware that I have already granted a concession to outright purchasers and I have recently advised local authorities that the same concession may be given to purchasers who had redeemed their annuities before March 1978.
The effect of these concessions is that, where the price paid by a tenant purchaser under a pre-July 1973 tenant purchas scheme is higher than what he would have paid under the July 1973 scheme, he will now qualify for a cash refund equal to one-quarter of the difference between the pre-July 1973 price and what he would have paid under the July 1973 scheme. These concessions should effectively remove any anomalies in the case of tenant purchasers under the pre-July 1973 schemes.
I have also asked the authorities to complete the making of the necessary refunds as early as possible, but in any case not later than 31 March next.