CORPORATION TAX EXEMPTION FOR SOCIAL HOUSING

Early day motion 418, tabled 17 February 2000 by Andrew Love (Labour/Co-operative). Signed by 45 members.

That this House believes that social housing activities by registered social landlords should not be charged corporation tax at the same rate as commercial companies; also believes that this is not in the interests of improved investment in Britain's housing stock; understands that, while charitable RSLs are exempt from such tax, many offer too broad a range of services to qualify for charitable status; notes that the National Housing Federation estimates the cost of exemption at approximately ú30 million a year and contrasts this figure with the ú300 million cost of reducing the corporation tax rate for commercial companies in 1998-99; further notes that this ú30 million represents a 6 per cent. increase in internally generated funds available for social housing activities; and calls on the Chancellor to boost investment in social housing by considering exempting social housing activities from corporation tax liability.

Signatures by party: Labour 30, Labour/Co-operative 7, Liberal Democrat 5, Conservative 1, Independent Labour 1, Plaid Cymru 1.