Daily Archives: October 9, 2010

Jim Pickard

Ministries negotiating or renewing leases on offices will have to agree a 25 per cent discount on the market rate under coalition plans to cut the cost of the Whitehall estate, according to a letter leaked to FT Westminster. The tough move comes as ministers weigh up a radical plan to create a new financial vehicle to control billions of pounds worth of government-owned buildings in London.

Francis Maude, minister for the Cabinet Office, has written to Danny Alexander, chief secretary to the Treasury, laying out plans to drive out fresh savings from landlords “through harder negotiation”. Read more