Housing and Regeneration Bill

We have had two rather different but equally important debates. On the amendment of the noble Baroness, Lady Hamwee, I am absolutely of one mind with her and her noble friend on the importance of this sort of research, irrespective of who does it. We need a much clearer idea of the living standards and choices that people make in terms of their income and the demands on them. I have seen some of Peter Ambrose’s important work—he is a professor in housing studies—which is quite well known in this field. I reassure the noble Baroness that, as she knows, the regulator can already carry out a wide range of studies and research under Clause 99. The scope is limited in two ways. The purposes of the study must be to advance the objectives set out in Clause 88 and must relate to social housing. I am sure that a study of the type proposed would advance objective 2, as it is concerned with the protection of tenants and potential tenants; for example, protection from excessive rent levels. It is also likely that this sort of study would be research on social housing. If it is, the regulator should certainly be able to do it already if it wishes to. I hope that that will satisfy the noble Baroness on that point. Swerving to the point about the Treasury, I am not sure whether Members of the Committee should look forward to the letter we are promising. I am told that it is now about 30 pages long on Part 1. We are scrupulous in our attention to detail, and honour our promises, but it will be indexed so that Members of the Committee do not have to read all of it. I am sure that it will deal with this point about the Treasury and many of the other wide-ranging issues raised on Part 1. I can only repeat a version of what I said to the noble Viscount, Lord Eccles, previously. As an NDPB, the regulator is subject to the same reporting and accounting requirements and procedures as any other large-scale NDPB. The accounts direction issued by the Secretary of State, as with other account directions, requires that the accounts must show a true and fair view of the state of affairs and the year end. Subject to that requirement, and set out in the Cabinet Office guidance, the accounts must therefore be prepared in accordance with the accounting and disclosure requirements in Managing public money and the current government financial reporting manual issued by the Treasury, known as the FReM, as amended or augmented from time to time, and subject to paragraph 12(3) of Schedule 1, which makes exactly the same provision for the HCA; and any other relevant guidance or disclosure requirements come into that. Not only in this but in other legislation, we have arrived at the view that that is sufficient; we have met our duties. Treasury approval of the accounts direction would be sought as a matter of course. The noble Viscount is right: administratively, any proposals to depart from that would need Treasury agreement. I am confident that the question on when this change was made will be answered in this mega-letter. I have no consolation from behind me on the noble Earl’s specific question, so it will also have to be answered in the letter if he will patiently bear with me.