Parliamentary.ai

Overview

This bill mandates that specified UK public bodies must sell off unused or underused assets via public auction. The aim is to improve the efficiency of public spending and ensure better use of taxpayer resources.

Description

The Public Bodies (Disposal of Assets) Bill requires central government departments, their agencies (including trading funds), non-departmental public bodies, NHS bodies, and public corporations to annually declare all tangible fixed assets unused as of January 1st. This includes land, buildings, and machinery valued above a Treasury-defined threshold and recorded in the National Asset Register. Assets unused for over a year must be sold at public auction. The Secretary of State can extend these provisions to underutilized assets via parliamentary order.

Key Aspects:

• Annual declaration of unused assets by specified public bodies.
• Mandatory public auction for assets unused for over one year.
• Secretary of State's power to extend the rules to underutilized assets.
• Bill applies to England and Wales only.

Government Spending

The bill will involve expenditure from money provided by Parliament to cover the Secretary of State's costs in implementing the Act, and any increases in spending under other Acts resulting from this Act. Specific figures are not provided in the bill text.

Groups Affected

The bill directly impacts:

• Central Government Departments: Required to declare and potentially sell assets.
• Executive Agencies: Including trading funds - required to declare and potentially sell assets.
• Non-Departmental Public Bodies: Required to declare and potentially sell assets.
• NHS Bodies: Required to declare and potentially sell assets.
• Public Corporations: Required to declare and potentially sell assets.
• Potential Buyers: Will have the opportunity to acquire assets via public auction.