Nicholas Soames: To ask the Chancellor of the Exchequer how Government Departments are incentivised to offer up assets for disposal and complete sales rapidly to contribute to debt reduction; and if he will make a statement. [165644]

Danny Alexander, Chief Secretary to the Treasury: The Government is committed to ensuring the effective and efficient management of publicly owned assets, including assessing options for disposal. Departments are permitted to retain up to 120% of the asset sales proceeds that they have negotiated with HM Treasury as part of the spending round.

In ‘Investing in Britain's Future’, published on 27 June, the Government announced an ambitious target for central Government to deliver at least £15 billion of asset sales between 2015 and 2020. To support the delivery of this target, the Government also announced the intention to implement a series of policy changes, including improved incentives for central Government Departments to ensure efficient use of assets. Further details on these policies will be provided at autumn statement 2013.

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