What it is
Chancellor George Osborne has published his Emergency Budget, setting out plans for reducing the UK’s budget deficit.
When it came out
22 June 2010
Why it is important
This spells out the new coalition’s agenda for cutting costs and raising taxes in detail for the first time. It features important moves for property, including the retention of capital spending levels on infrastructure and the relaxation of planning laws in growth areas.
To read the full document, click here: Emergency Budget 2010

The Department for Communities and Local Government has today confirmed details of how it plans to save £1.16bn on grants for local government.
They include a £146m cut to the Housing and Planning Delivery Grant and £160m from PFI schemes.
Today, Communities Secretary Eric Pickles confirmed that local authority funding cuts would be capped at 2%, and CLG published detailed information on how each council’s funding streams would be affected.
The publication aims to make it clearer to councils how to manage their budgets effectively in the light of spending cuts. Those worst …

There is less scope for the Scottish public sector to save on property costs than for the public sector in England, according to a Holyrood report published yesterday.
The Scottish Parliament’s Finance Committee has reported that reductions in consultancy, supplier contracts and property costs were not as easy in Scotland, where the government has been called to find £332m in efficiency savings this year.
It follows evidence given by Cabinet Secretary John Swinney, who said that  the UK Government’s cuts would have an impact in Scotland, but the savings it highlights are …

Chancellor George Osborne has today called on government departments to examine their assets, including property, and consider contracting them out or privatising them.
In a speech to the House of Commons this afternoon, Osborne announced details of how the forthcoming Spending Review will be carried out, which will set spending limits for every government department for 2011 – 2015 after its conclusion this autumn.
Osborne said: “For capital spending, we will undertake a fundamental review of spending plans to identify the areas of …

What it is
The Treasury has today unveiled its plan to make £6.2bn savings in public sector spending in a bid to cut the deficit. This press notice was published alongside speeches by George Osborne and David Laws.
When it came out
24 May 2010
Why it is important
The government has pledged to make £170m through using its property more efficiently. It has also ordered regional development agencies to save £270m in their budgets.The Department for Communities and Local Government is expected to save £780m in the next financial year too.
To read the notice …

What it is
The new Conservative-Liberal Democrat coalition has published a manifesto for its time in government. The long-awaited document gives detail on the outcomes of the two parties’ frantic negotiations early last week.
When it came out
20 May 2010
Why it is important
The document sets out far-reaching reforms that will affect all areas of public property, including scrapping most RDAs, abolishing regional planning, axing the Infrastructure Planning Commission and considering the case for getting rid of government offices in the regions.
To read the document in full, click here: Coalition …

The Confederation of British Industry said the government should make big cuts to its property cuts over the next five years to help reduce the impact of tax rises.
In a new policy report called Time for Action: Reforming Public Services and Balancing the Budget, the CBI gives far-reaching proposals on making public sector savings. They include a two year pay freeze, sharing more back-office services, and “better management of the government estate”.
It said the public sector should cut its property costs £2bn in total by 2015-16 by managing its estate …

The Audit Commission has today published guidance on accounting for fixed assets under International Financial Reporting Standards.
The briefing, which is called Countdown to IFRS: Accounting for non-current assets, explains what problems could arise from IFRS for property professionals in the public sector.
In February, the Audit Commission’s deputy chairman Bharat Shah announced that nearly 25% of local authority auditors had expressed concerns about the quality or timeliness of financial information delivered for audit.
He said: “Local government does have a reputation for meeting deadlines despite the odds. But under IFRS for 2009-11 …

Over the last couple of days, prime minister David Cameron (pictured) has been announcing his new ministerial team for its coalition government with the Liberal Democrats.
Here are the most significant cabinet appointments for the public property sector:
Chancellor of the Exchequer:
George Osborne
Osborne has been MP for Tatton since 2001. As chancellor, his main role will be to enforce cuts to public sector spending that will have a big impact on how public services are run and how public sector property is used. He is expected to call an emergency …

What it is: The document that sets out the policy direction of the new Conservative-Liberal Democrat coalition government.
When it came out: 12 May 2010.
Why it is important: It sets out the new government’s policies in areas including deficit reduction, tax and the environment.
To read the full agreement click here: Coalition Agreement