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Politics & press news – Embassy 46

MPs slam FCO for failing to reach property sales target

The Foreign Office will raise £100 million less than planned through the sale of British diplomatic property, according to the Foreign Affairs committee.

MPs said the original estimate that property sales would generate £240m between April 2011 and March 2015 was “poorly founded” and had to be downgraded to £140m.

This may leave the FCO with fewer resources since a deal with the Treasury allows the FCO to invest up to £100m a year of receipts from property sales back into its diplomatic network.



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