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File on 4: Council Asset Sales

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Council Asset Sales

18/06/2013

BBC Radio 4 - File on 4, Council Asset Sales

Are taxpayers getting value for money when cash strapped councils sell off their assets?

Are taxpayers getting value for money when cash-strapped councils, facing unprecedented budget cuts, sell their assets to reduce costs and raise capital? Jenny Chryss investigates.

Local authorities across the UK are facing tough decisions as they try to balance their books in the face of unprecedented funding cuts - with many opting to sell land and buildings to reduce spending and bring in much needed capital.

But, one person's white elephant is another's much loved local facility, so the choice of what goes on the market often causes great public resentment.

Jenny Chryss visits four local authorities where announcements about asset sales have caused serious questions to be asked. She finds allegations of decisions taken behind closed doors, sums that don't stack up and property that could end up being mothballed for years to come.

So are councils getting value for money for their tax payers? Or are they out of their depth when they negotiate with the private sector, especially in one of the harshest property markets for years?

And with a major shift in the way councils are audited, is there a danger that mistakes could go unnoticed and unchallenged?

Producer: Rob Cave.

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