Some £15bn in local public assets have been sold since 2010, according to a think tank.
Research conducted by the Institute for Public Policy Research (IPPR) and IPPR North shows that an estimated 75,000 council assets have been sold in that time, which are worth around £15bn.
On average, more than 6,000 council assets worth around £1.2bn annually have been sold every year during the last 13 years, the think tank said.
A further 2,500 council-owned buildings and assets are already at risk in the next five years, according to IPPR. Asset disposal programmes are likely at councils that have issued section 114 notices or are otherwise struggling financially, including at Birmingham City Council.
By comparison, the research estimates that a total of just 2,500 assets came newly into community ownership since 2010.
The figures come as the result of analysis of published local government data alongside statistics from a Freedom of Information request.
“Whilst under-pressure local authorities often have little choice but to sell, it represents a loss to communities that is unlikely to be reversed,” IPPR said. “[This loss] was reflected in the stories told to IPPR researchers during deliberative hearings held in Hastings, Redcar and Stoke-on-Trent. A picture emerged of proud, hopeful communities compelled to patch up the holes in a threadbare social safety net.”
IPPR has launched a “citizens’ blueprint for levelling up” – or “an antidote to loss” – in response, called ‘Parallel lives: Regionally rebalancing wealth, power and opportunity’.
The IPPR report makes a series of recommendations, including introducing a “new, fairer” funding formula for major public sector investment projects “so that areas that need investment, receive it”.
IPPR has also recommended introducing common good property registers to increase transparency of public asset ownership “to help to protect communities from continual losses, alongside support for communities to regain assets”.
Finally, the think tank said new ways to empower citizens locally should be found. “One per cent of local funding [should] be allocated to ‘participatory budgeting’ – so that citizens can get directly involved in the decisions made about their area,” the IPPR report said.
Zoë Billingham, director of IPPR North and report co-author, commented: “People have lost far too much over the last 13 years. Communities have lost billions worth of public land and buildings in their areas, local safety nets are crumbling all whilst government plays fast and loose with major regional infrastructure projects.
“People want and deserve better than this. They want functioning public services, to receive a fair share of investment and to restore pride in their places. Regional rebalancing must be reprioritised by central government and through support of regional leaders who continue to champion the agenda locally.
“It’s time to rewire the status quo so that wealth, power and opportunity can be accessed and shared by everyone, in the places they live”.
Carys Roberts, executive director of IPPR, said: “Our economy and democracy are not yet structured to help people everywhere thrive. Citizens still expect regional rebalancing to happen and through our citizen conversations they told us how they want a fairer, more transparent and committed offer for their places. It’s time for an upgrade, our citizens’ blueprint for levelling up offers the antidote to loss.”
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