Labour consider selling off central London buildings to help pay off debts

The Labour leadership say they would consider selling off QEII Conference Centre and the Civil Service Club – alongside two other buildings in London – to help pay off the country’s debt.

They say they selling off these government-owned buildings could raise up to £100m, and would be part of a “fairer way” of reducing the deficit.

Alongside selling off the QEII conference centre and the Civil Service Club, Labour are also thinking about selling Marlborough House, which is near Buckingham Palace and Inn the Park which is a restaurant near Parliament.

Shadow Chief Secretary to the Treasury Chris Leslie explained:

“The next Labour government will get the deficit and debt down, but we will do so in a fairer way and by examining every pound of spending.

“Four such buildings in iconic locations in central London could attract interest from buyers around the world. A future Labour government will examine whether it would provide a better deal for taxpayers if the properties were sold off and the proceeds used to pay down Britain’s national debt.”

The leadership are commissioning a review to decide whether it makes sense o sell these buildings, and another review to look at the government other assets,  policing and local government.