HM Treasury News Release
148/97                                      24 November 1997
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            MAKING THE MOST OF PUBLIC SECTOR ASSETS:
           PUBLICATION OF THE NATIONAL ASSET REGISTER


The first ever list of the Government's assets was published
today by the Chief Secretary to the Treasury Alistair Darling.

In a statement, he said:

     "Today sees the publication of the first ever National
     Asset Register - the 1990s Domesday Book.  All 550
     pages of it.  For the first time ever the nation can
     see what it owns.

     The National Asset Register is an essential part of the
     Comprehensive Spending Review.  It demonstrates our
     commitment to greater openness and accountability.  It
     will help ensure that the Government achieves value for
     money."

Announcing measures to help departments get better use from their
assets he said:

     "Publication of the National Asset Register is a real
     landmark in open and efficient Government.  It will be
     an essential starting point for departments to identify
     whether they are making best use of their assets."

     "Looking to the long term means that Government has to
     ensure that every penny of public spending is geared to
     delivering its priorities and objectives.  The NAR is
     an essential part of that."



Notes for Editors

National Asset Register

1.   The National Asset Register is a comprehensive listing of
     the fixed assets held by Government departments.  It also
     includes summary information on the assets held by non-
     departmental public bodies, NHS bodies and other public
     corporations (details of where more information can be
     obtained on these bodies is also given).

2.   Publication of the National Asset Register fulfils a
     commitment that every Government department would draw up a
     comprehensive list of its assets by November 1997.

3.   By giving departments detailed information on the assets
     they own it helps pave the way for the introduction of
     resource accounting over the course of the next few years. 
     Departments will move to a resource accounting basis next
     year and lay their first resource accounts before Parliament
     for the 1999-2000 financial year.  A full resource
     accounting and budgeting system will be introduced from
     2001-2002 onwards.

Other Measures 

4.   The National Asset Register is a key tool enabling the
     Government to make the best use possible of public assets. 
     The Treasury have also introduced two new measures to
     encourage departments to get the best from their assets. 
     Further details were announced by the Chief Secretary in a
     PQ answered today.

Further Information

5.   Media copies of the National Asset Register can be obtained
     from HM Treasury Press Office on 0171 270 5243.

6.   If you have access to the Internet, you can find this news
     release at http://www.hm-treasury.gov.uk.  Other Treasury
     material can also be found at this address.

7.   The public can obtain copies of the National Asset Register
     from The Public Enquiry Unit, HM Treasury on 0171 270 4558. 
     The National Asset Register will also be available on the
     Treasury's Internet site.