According to a study by the Institute for Public Policy Research (IPPR), British councils grappling with financial challenges have sold approximately 75,000 public assets valued at £15 billion since 2010.
This research, utilising local government data and insights from a Freedom of Information request, sheds light on the ongoing depletion of public assets over the past 13 years. On average, more than 6,000 council assets, with a total value of around £1.2 billion per year, have been divested annually since 2010, primarily due to the government's austerity policies. However, only 2,500 assets have transitioned into community ownership during this period, leaving a significant gap.
The report also warns that an equivalent number of council-owned buildings and assets remain at risk over the next five years.