We questioned the Cabinet Office about how current turbulence in the property market may affect this target.46 The Cabinet Office acknowledged these risks, particularly surrounding valuation. It assured us it would seek appropriate professional advice and there would be no fire sale of assets.47 The Cabinet Office also explained its approach to disposals, asserting that it can protect itself from some market turbulence. It argued there was relative security in selling off lots of small parcel...

We questioned the Cabinet Office about how current turbulence in the property market may affect this target.46 The Cabinet Office acknowledged these risks, particularly surrounding valuation. It assured us it would seek appropriate professional advice and there would be no fire sale of assets.47 The Cabinet Office also explained its approach to disposals, asserting that it can protect itself from some market turbulence. It argued there was relative security in selling off lots of small parcels of lands, as opposed to a few big, expensive properties that might fluctuate more widely in value.48 Type: conclusion | Number: 18 | Response status: not_addressed Government response: 5. PAC conclusion: It is unclear how the government will meet its target for property disposals, given the past struggles of such programmes and current market uncertainty. 5. PAC recommendation: The Cabinet Office should write to us by April 2023, setting out how it intends to reach its property di