William Eichler 21 September 2023

Cash-strapped councils forced to sell £15bn of assets

Cash-strapped councils forced to sell £15bn of assets image
Image: Richard OD / Shutterstock.com.

An estimated 75,000 public assets worth £15bn have been sold by cash-strapped English councils since 2010, according to the Institute for Public Policy Research (IPPR).

A new study published today by the think tank draws on local government data and statistics from a Freedom of Information request to highlight the loss of public assets over the last 13 years.

On average more than 6,000 council assets worth around £1.2bn annually have been sold every year since 2010 due in large part to the Government’s policy of austerity.

Only 2,500 assets came newly into community ownership since 2010, according to IPPR. The same number of council-owned buildings and assets are will also be at risk in the next five years.

The report follows news that Birmingham City Council will sell further assets to attempt to improve its financial position after declaring effective bankruptcy.

Director of IPPR North Zoë Billingham said: ‘People have lost far too much over the last 13 years. Communities have lost billions worth of public land and buildings in their areas, local safety nets are crumbling all whilst government plays fast and loose with major regional infrastructure projects.

‘People want and deserve better than this. They want functioning public services, to receive a fair share of investment and to restore pride in their places. Regional rebalancing must be reprioritised by central government and through support of regional leaders who continue to champion the agenda locally.’

If this article was of interest, then check out our feature, 'Preventing future Section 114 notices'.

SIGN UP
For your free daily news bulletin
Highways jobs

Family Worker (Link Role)

Essex County Council
£31931.00 - £36423.00 per annum + + 26 Days Leave & Local Gov Pension
Family Worker (Link Role)Permanent, Full Time£31,931 to £36,423 per annumLocation
Recuriter: Essex County Council

Assistant Manager

Wakefield Council
£42,839 to £46,142, Grade 10.
We have fantastic opportunity available for a Residential Children’s Home Assistant Manager. Wakefield, West Yorkshire
Recuriter: Wakefield Council

Council Tax Officers - North Lincolnshire Council

North East Lincolnshire Council
Grade 6 - £16,765 to £18,501 per year
You will be working as part of the Local Taxation and Benefits Shared Service North East Lincolnshire
Recuriter: North East Lincolnshire Council

Electoral Services Officer

North East Lincolnshire Council
NJC15 - £30,024
Are you ready to play a key role in shaping democracy while thriving in a fast-paced, data-driven environment? North East Lincolnshire
Recuriter: North East Lincolnshire Council

Family Support Worker

North East Lincolnshire Council
NJC 19 - £32,061
Are you committed to improving outcomes for our Young People? North East Lincolnshire
Recuriter: North East Lincolnshire Council
Linkedin Banner