MPs investigate commercial property purchases by councils

Public accounts committee inquiry follows fears about exposure to risk amid pandemic

Parliament’s spending watchdog has launched an inquiry into purchases of commercial property by local authorities, amid fears that the coronavirus pandemic will expose councils to a drop in income from their investments.

The public accounts committee will look into whether local government officials have the commercial skills required for such transactions, which have rocketed over the past four years. MPs will also question officials from the Ministry of Housing, Communities and Local Government over how much they monitor commercial activity among local authorities and their exposure to risk.

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Source: theguardian – realestate
MPs investigate commercial property purchases by councils