Government saving more than £1.2 billion by reducing its estate

Government has reduced its estate by the equivalent of 26 Buckingham Palaces, saving more than £1.2 billion since 2010.

The latest State of the Estate Report shows that the government’s estate rationalisation strategy is continuing to deliver savings for taxpayers and foster economic growth.

The government has reduced the size of its estate by 2 million square metres – the equivalent of 26 times the size of Buckingham Palace – boosting economic growth and saving a cumulative £1.2 billion (up to March 2013) for the taxpayer since 2010. Further savings have been achieved since then. The announcement by Minister for Cabinet Office Francis Maude comes as the government launches the 2013 State of the Estate (SOFTE) report.

Now in its third year, the report outlines how consolidating and modernising its estate is making the government more efficient than ever. The report shows that since 2010 the equivalent of 2 million square metres has been freed up. Iconic landmarks in Britain could fill this space many times over, including Buckingham Palace (26 times over), the Shard (18 times over) and the Royal Liver Building (36 times over).

Read more on the gov.uk website…