Government Departments: Assets
The question
To ask the Minister for the Cabinet Office, whether the Government Property Agency has a process allowing for the disposal of surplus government assets below market rate when a disposal is in the community interest.
Answered by Georgia Gould
Government organisations including the Government Property Agency must follow the provisions for the disposal of surplus government property established in guidance issued by HM Treasury, specifically that disposal decisions should take account of wider social costs and benefits and should form part of any appraisal, and when appropriate it may be justifiable to choose an option that does not generate the highest Exchequer receipt, for example to support a wider government policy objective such as regeneration.
HMT guidance sets out the method for calculating wider social, economic and environmental benefits in policy and project appraisal, and how to treat disposals at less than market value.
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