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Government Departments: Historic Buildings

HM Treasury written question – answered on 14th March 2016.

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Photo of Lord Wallace of Saltaire Lord Wallace of Saltaire Liberal Democrat Lords Spokesperson (Foreign and Commonwealth Affairs)

To ask Her Majesty’s Government whether they will refer to any non-commercial criteria in calculating the economic rent to be charged to HM Treasury, the Foreign and Commonwealth Office, and the Cabinet Office, for their occupation of historic buildings in Whitehall.

Photo of Lord O'Neill of Gatley Lord O'Neill of Gatley The Commercial Secretary to the Treasury

HM Treasury does not pay an economic rent for its occupation of 1 Horse Guards Road and therefore non-commercial criteria are not applied. HM Treasury's occupation of the building is financed via a Private Finance Initiative (PFI) contract, let on the commercial market, essentially a commercial leaseback arrangement ‎for 35 years.

No information is held by HM Treasury regarding the occupation of historic buildings in Whitehall by the Foreign and Commonwealth Office or the Cabinet Office.

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