§ Mr. CousinsTo ask the Secretary of State for the Environment when his Department or its agencies last carried out a valuation of its property assets; what the total property portfolio is worth in each standard region; and what charges for asset replacement are made.
§ Mr. Ridley[holding answer 11 May 1989]: The PSA is responsible for the management of the civil estate vested in me and it is currently undertaking a valuation of the estate which will include an asset valuation.
This major exercise, which is being carried out by independent valuers, will not be completed until the end of the year.
Neither the depreciation of assets, nor the cost of replacing assets, are directly provided for in the existing annual vote structure.