The government will add £500m to the planned Regional Growth Fund designed to stimulate private sector projects, topping up the pot to £1.5bn over the next three years.
Chancellor George Osborne began detailing cuts to individual departments’ budgets today, saying overall cuts would be 19% rather than the anticipated 25%.
He said …

Chancellor George Osborne today said that the government would implement “massive devolution of financial control” to local authorities, including the tax increment financing (TIF) model for funding infrastructure.
Speaking today in the House of Commons, Osborne said that he would make savings of 7.1% to council funding but that in return, …

The government has today confirmed plans to introduce two property vehicles to own and manage its office estate, one in central London and one in Bristol.
As revealed by Public Property UK last week, the government wants to explore ways of better asset managing its offices in order to find savings.
It …

Asset sales and property savings are among £6n of planned cuts to administrative budgets, announced today by chancellor George Osborne.
Speaking to the House of Commons, Osborne said the government would look towards “squeezing every last penny” from central government budgets in order to cut administrative spending by one third.
As part …

As property braces itself for the Comprehensive Spending Review, Nick Johnstone considers the repercussions of a “once-in-a-century” moment in government property policy.
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A scruffy 200,000 sq ft office block is about to come on to the market in Edinburgh. Its occupier, the Department for Work and Pensions (DWP), is cutting costs …

Visit Public Property UK tomorrow to see, minute-by-minute, what experts from across the UK and the world think of tomorrow’s spending review.
This website’s homepage is hosting a live discussion, featuring news updates, Twitter posts and discussions about the Comprehensive Spending Review as it happens.
Join in online by returning to the …

New property vehicles to own and manage the government office estate should charge departments “market rent”, prime minister David Cameron has said.
In a letter to Treasury chief secretary Danny Alexander and Cabinet secretary Francis Maude, seen by PublicPropertyUK.com, Cameron calls for departments to be “incentivised” to use their estates efficiently. …

Companies including Max Property, Hammerson, and Mitie have given public backing to the £83bn  cuts due to be announced by chancellor George Osborne on Wednesday.
Max Property chair Nick Leslau (pictured) and Hammerson chair John Nelson today signed a statement, along with 33 other industry bosses, claiming that private sector job …

Deputy prime minister Nick Clegg has announced that local authorities will be given the freedom to borrow against future tax increases in order to fund development.
In a speech to the Liberal Democrat conference today in Liverpool, Clegg said that Tax Increment Financing (TIF) would be introduced in England as part …

The government should limit public sector job cuts to no more than 125,000 between now and 2013, according to the Chartered Institute of Personnel and Development.
John Philpott, its chief economic adviser, has warned that private sector job creation is set to experience another dip and that it will fail to …