HMRC Estate

Part of Oral Answers to Questions — Treasury – in the House of Commons at 10:30 am on 26th January 2006.

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Photo of Henry Bellingham Henry Bellingham Opposition Whip (Commons) 10:30 am, 26th January 2006

Is it true that as part of an outsourcing deal in 2001, 600 HMRC buildings were sold to Mapeley, an offshore Guernsey company, for £220 million? Is it also true that Savills recently valued those buildings at £566.6 million, a staggering 150 per cent. increase? Is not that a rotten deal for taxpayers? Does the Paymaster General agree that if she and the Chancellor were investment bankers and made such a duff deal, they would not just be in line to lose their bonuses, but would be facing the sack?