Labour has announced plans to sell off £100m worth of government-owned buildings in London if the party wins the general election next May.
As part of a review of public spending, designed to tackle the deficit, Ed Miliband’s party is planning to hang the “for sale” sign on a number of iconic buildings in the capital, including Inn The Park, the St James’s Park restaurant.
Other buildings up for sale could include The Civil Service Club, worth an estimated £6.8m; The QE2 conference centre, thought to be worth around £25m and Marlborough House, which is currently used as an office by the Commonwealth Secretariat, worth £65m. Marlborough House is used by the secretariat at no cost, meaning the government makes no money from its use.
Chris Leslie MP, Labour’s shadow chief secretary to the Treasury, said: “A future Labour government will examine whether it would provide a better deal for taxpayers if the properties were sold off.”
The coalition government has already sold off a number of similar property assets. It made £160m from such sales in 2013/14 alone.
ASSETS LABOUR WOULD SELL
QE2 conference centre