An interesting article in the Telegraph today, Ministers are to examine the sale of tens of billions of pounds of real estate assets in a fresh attempt to generate cash to repair Britain’s battered public finances.
The Government has begun a process to recruit experienced property executives to manage about £35bn-worth of assets. The new team will help establish a new wing of the Shareholder Executive, which is likely to be called the Property Executive.
In his report, Lord Carter estimated that the Government could expect to generate approximately £20bn from property disposals during the next 10 years and a further £5bn in annual savings from running costs by the end of that period.
Analysts said that establishing the new arm under the auspices of the Shareholder Executive, which manages a sprawling portfolio of assets such as Royal Mail, the Met Office and Channel 4, would introduce a more professional management approach to the Government’s vast property empire, which the Office of National Statistics believes is valued at about £370bn.
Democracy at its worst, Government at its worst, selling off properties that belong to us is a no-no, these assets do not belong to the Government; that is of course apart from the fact that property prices are at their lowest for years.
“As a man is said to have a right to his property, he may be equally said to have a property in his rights.”-James Madison
Angus
Angus Dei on all and sundry
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