Magazine article Public Finance

Whitehall Slow to Find Commercial Opportunities

Magazine article Public Finance

Whitehall Slow to Find Commercial Opportunities

Article excerpt

Whitehall departments should do more to identify assets that can be successfully turned into money-making opportunities, government auditors said this week.

The Wider Markets scheme, launched by the Treasury in 1998, encourages departments to identify any buildings, land or intellectual property that can be sold on a commercial basis. The armed forces, for example, are generating £72,000 a year by letting out redundant Boxer communication towers for use as mobile phone masts.

But a National Audit Office report published on January 27 said that, while there were pockets of good practice, three out of four departments had done little to explore commercial opportunities. Auditors found that 77% of wider markets officers spent no more than 5% of their time on the initiative and were therefore unlikely to be fulfilling their primary responsibilities. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.