Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has approved gifts exceeding £300,000 made by (a) Government departments and (b) arms-length bodies through the (i) sale and (ii) lease of public assets at below market value since December 2019.

Managing Public Money (MPM) states that if an asset is sold or leased at a loss, the proceeds forgone (compared to market value) should be treated as a gift. Departments should treat this gift in line with MPM, approved by HM Treasury and disclosed in Annual Report of Accounts to Parliament via Written Ministerial Statement. Following a review, HM Treasury has not identified any approvals given for gifts above £300,000 in value through the sale or lease of an asset below market value since 2019.