He also said an increase in last year's Estate Action budget of nearly 30 per cent to £348 million reflected the Government's commitment to improving run-down housing estates.
Sir George said the Estate Action resources available for 162 new schemes in 1992-93 will be matched over their life by local authorities' resources of over £290 million. In addition, these new schemes are expected to lever in some £360 million of private sector finance - a major contribution to investment in our housing stock.
The report shows that most of the 162 new schemes in 1992-93 featured physical and environmental improvements, including work to improve security, increase energy efficiency and remodel buildings or estate layouts. Over 90 per cent involved improvements to housing management arrangements and over 30 per cent included proposals to set up an Estate Management Board or Tenant Management Co-operative. Two-thirds of the schemes also involved disposal of land or property and three-quarters featured some form of enterprise initiative.