§ The Secretary of State for the Home Department (Mr. David Blunkett)WRVS (Women's Royal Voluntary Service) Office Premises Ltd currently owns 147 properties (valued by WRVS at £2,904,089) and other assets derived from the proceeds of the sale of properties and other assets (£6,222,436) (mainly the proceeds of the earlier sales of properties) on trust for the Home Secretary.
An independent review of WRVS in 1997 identified that WRVS' financial dependence on Government and restrictions on its property holdings were major barriers to its goals of modernisation and independence.
I gave Parliament 14 days notice on 4 November 2002 by means of a Departmental minute that to help WRVS achieve these goals I will give the reversionary interest in the properties and other assets held on trust to WRVS Office Premises Ltd absolutely (total value £9,126,525) and subject to annual Parliamentary approval gradually reduce the grant-in-aid received by WRVS in 2002ߝ3 of £4.2 million to £1 million a year by 2007ߝ08.