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Suspension of Workplace 2010 could cost Executive £175 million

31 October, 2008

Sinn Féin South Antrim MLA Mitchel McLaughlin, who is Chairperson of the Assembly Finance Committee, has said that the suspension of the Workplace 2010 scheme to sell off government buildings and assets has left the Finance Minister Nigel Dodds with a £175 million problem.

Mr McLaughlin said:

"The decision to suspend Workplace 2010 was the only viable option left open to Nigel Dodds. The projected receipts from the sale of government assets had already been downgraded before the start of the fall in property prices. On top of that they were some very serious questions being asked about the bidding process.

"I believe that we need to review this entire process properly before any further decisions are taken.

"The Capital Realisation Taskforce had projected that Workplace 2010 would generate some £175 million for the Executive but it would appear that Nigel Dodds is now left with a huge headache that will impact on the current spending plans of all departments.

"Nigel Dodds needs to explain, in advance of the next in-year monitoring round, how he will deal with this hole in his financial projections." ENDS

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