There has been a significant decrease in the disposal of government land and property, between April 2007 and April 2009. The public spending statistics released by HM Treasury show that the revenue generated from selling central government’s land and building reduced from £2.1 bn in 2007-08 to £650 m in 2008-2009.
The total incomings from asset sales generated from across the public sector have plummeted significantly, from its average value of £7 bn to £3 bn in the last financial year. The annual borrowing was also revealed to be £3 bn less than the £167 bn amount declared by Chancellor Alistair Darling, during the budget.
There has also been a fall in the revenue generated from council property sales, which stood at £2.4 bn in 2007-2008. However, this year, such selling of counter property could muster up only £960 m.
Last week, the exclusivity granted to the government with regard to these figures was widely criticized in the media. The publicizing of this data is expected to quell those criticisms.
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