148/97
24 November 1997
MAKING THE MOST OF PUBLIC SECTOR ASSETS: PUBLICATION OF THE NATIONAL ASSET REGISTER
The first ever list of the Government's assets was published today by the Chief Secretary to the Treasury Alistair Darling.
In a statement, he said:
"Today sees the publication of the first ever National Asset Register - the 1990s Domesday Book. All 550 pages of it. For the first time ever the nation can see what it owns.
The National Asset Register is an essential part of the Comprehensive Spending Review. It demonstrates our commitment to greater openness and accountability. It will help ensure that the Government achieves value for money."
Announcing measures to help departments get better use from their assets he said:
"Publication of the National Asset Register is a real landmark in open and efficient Government. It will be an essential starting point for departments to identify whether they are making best use of their assets."
"Looking to the long term means that Government has to ensure that every penny of public spending is geared to delivering its priorities and objectives. The NAR is an essential part of that."
NOTES TO EDITORS
National Asset Register
1. The National Asset Register is a comprehensive listing of the fixed assets held by Government departments. It also includes summary information on the assets held by non- departmental public bodies, NHS bodies and other public corporations (details of where more information can be obtained on these bodies is also given).
2. Publication of the National Asset Register fulfils a commitment that every Government department would draw up a comprehensive list of its assets by November 1997.
3. By giving departments detailed information on the assets they own it helps pave the way for the introduction of resource accounting over the course of the next few years. Departments will move to a resource accounting basis next year and lay their first resource accounts before Parliament for the 1999-2000 financial year. A full resource accounting and budgeting system will be introduced from 2001-2002 onwards.
Other Measures
4. The National Asset Register is a key tool enabling the Government to make the best use possible of public assets. The Treasury have also introduced two new measures to encourage departments to get the best from their assets. Further details were announced by the Chief Secretary in a PQ answered today.
Further Information
5. Media copies of the National Asset Register can be obtained from HM Treasury Press Office on 0171 270 5243.
6. If you have access to the Internet, you can find this news release and other Treasury material can also be found at this address.
7. The public can obtain copies of the National Asset Register from The Public Enquiry Unit, HM Treasury on 0171 270 4558. The National Asset Register will also be available on the Treasury's Internet site.