Sir Michael Lyons will later today outline departmental guidelines for the disposal of £30bn of public assets by 2010.
Chancellor of the Exchequer Gordon Brown made the announcement while delivering his pre-Budget report this afternoon.
Brown added that, because there was further scope for rationalisation and sales of public property, he had asked Professor Martin Cave to conduct a “comprehensive audit” of pubic assets, with the aim of releasing the maximum amount to the market.
The massive sell-off of public property was first announced in July this year as part of the Government’s aim to relocate 20,000 civil servants out of London and the South-east to the regions.
Brown also announced in the report that regional development agencies in the North would start promoting “Science Cities” as part of a £100m technology investment programme, starting with Manchester, Newcastle and York.
References: EGi News 02/12/04
