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Town Planning, etc., Act, 1919, and the earlier " Non-Assisted Schemes." The accounts .ore arranged
as follows—
A.—Non-Assisted Schemes—
1. Clearance Schemes.
2. Working-class dwellings.
B.—Assisted Scheme—
1. Clearance Schemes.
2. Working-class dwellings.
3. Housing Schemes of Metropolitan Borough Councils.
4. Local Bonds (for housing).
C.—Coal supply to tenants.
D.—Well Hall Estate (Government estate managed by the Council.
It will he convenient to deal with each of these sections separately.
A.—Non-Assisted Schemes.
This section comprises the accounts of schemes carried out by the Council prior to the Housing,
Town Planning, etc., Act, 1919.
Clearance Schemes.—The net capital expenditure to 31st March, 1921, amounted to
£2,718,591 6s. TOd. The net debt outstanding on the same date was £1,059,972 18s. The revenue
account shows a deficiency of £63,517 14s. 1d., attributable to the debt charges on the cost of acquisition
and clearance works.
Working-class dwellings.—The net capital expenditure to 31st March, 1921, amounted to
£2,983,168 18s. 2d. (Housing Act, £2,239,630 13s. 4d.; Improvement Acts, £743,538 4s. lOd.);
the net debt outstanding on the same date after taking into account the accumulated sinking fund
was £2,599,6:6 18s. 5d.

The above results have been arrived at after charging interest and sinking fund, and after transferring
to the Repairs and Renewals Fund sums designed to cover the average cost of repairs and renewals
during the whole of the loan period. In view of the higher cost of repairs compared with pre-war prices,
the amounts of these transfers have already been substantially increased. During 1920-21 the actual
expenditure out of the Fund exceeded the amount credited thereto by £21,123 0s. 11d. (Housing Act,
£13,762 7s. 2d. ; Improvement Acts. £7,360 13s. 9d.)
The gross rental amounted to £314,665 10s. 5d. in 1920-21, as compared with £255,462 19s. 11d.
in 1919-20, an increase of £59,202 10s. 6d. This increase is the result of the rise in rents permitted by
the Increase of Rents, etc., Act.
The total financial result on all "non-assisted" dwellings and estates taken as a whole from
April, 1894 (the date of the opening of the first block) to 31st March, 1921, amounts to a surplus of
£814 5s. 5d. £2,086 6s. 5d. has been transferred to the rates and £1.272 1s. has been contributed from
Tramways Account in respect of certain rehousing obligations in connection with the Greenwich Generating
Station.
B.—Housing (Assisted Scheme).
This section comprises the whole of the Council's operations in fulfilment of its statutory obligations
under the Housing, Town Planning, Etc., Act, 1919, with the losses incurred by the metropolitan borough
councils as the result of their operations under the Aet. It also includes the transactions relating to
the issue by the Council of local bonds for housing under the Housing (Additional Powers) Act, 1919.
The form of the account is generally governed by regulations issued by the Minister of Health,
under the Housing, Town Planning, Etc., Act, 1919. Any deficiency (approved by the Minister of Health)
on the Housing (Assisted Scheme) Account in excess of the produce of 1d. rate will be met out of moneys
voted by Parliament. The "deficiencies" at present arise principally from debt charges in respect
of expenditure which, during the period of development is not revenue-producing. The results for the
vear 1920-21 are as follows :—
£
s.
d.
1. Clearance schemes Surplus 13 2 8
2. Working-class dwellings Deficiency 62,852 15 11
3. Housing schemes of Metropolitan Borough Councils (partly estimated) Deficiency 63,455 18 7
4. Local Bonds (for housing) Deficiency 19,011 1 3
Total deficiency £145,306 13 1