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Departmental Assets

Volume 501: debated on Wednesday 25 November 2009

To ask the Chancellor of the Exchequer what assets of his Department are planned to be sold in each year from 2009-10 to 2013-14; what the (a) description and (b) book value of each such asset is; what the expected revenue from each such sale is; and if he will make a statement. (300209)

The Government have stated their intention to realise £16 billion in asset disposals over the period 2011-14 and will publish further details of opportunities to commercialise business assets in the coming weeks.

The Treasury’s Asset Management Strategy was published in December 2007 on the Treasury’s website at:

http://www.hm-treasury.gov.uk/d/vfm_deliveryagreement

It stated that with the disposals in 2007-08, the Treasury Group will have met the Government’s aim that each Department should dispose of at least 10 per cent. of its asset stock in the period 2004-05 to 2010-11. There will be limited opportunities to make any further disposals in the remainder of the period through to 2010-11.