by Rebecca Walker — March 7, 2011—The U.K. government is set to cut millions in costs by slashing unnecessary spending on office space and reducing expensive property leases.
As part of this strategy, the government has already reduced property related costs by £48m as a result of the lease moratorium introduced last year. The lease moratorium is a ban on signing new government leases. It was originally imposed for ten months, but has since been extended until 2015.
Francis Maude, Minister for the Cabinet Office, said: “The moratorium on leases we introduced last year is working well and that is why just earlier this week I announced even tighter national property controls. Our drive for savings doesn’t stop there, the new advisory panel of property experts will help us identify areas where we can save money and ensure that no longer are millions of pounds squandered on expensive property leases and wasted office space.”
