Sir Phillip Green is to help the government with its property portfolio, it has been announced.
Britain's government has appointed Sir Philip Green as its
property investment advisor as it looks to make the most of its portfolio.
The retail mogul is to conduct an investigation into the last three years of public spending, tasked with sourcing areas suitable for cuts, according to PublicProperty.com.
It is thought that around £20 billion could be raised by selling
commercial development assets to property investment firms.
Cabinet Office minister Francis Maude told the news provider that there is a pressing need to push forward with efficiency and transparency agendas.
"Sir Philip has made clear to the government the importance of his business remit which has always been that efficient operating is different from cost cutting and removing jobs," said Mr Maude.
The Welsh Assembly Government has also brought in corporate experts to handle its property investment dealings, with managers from Amber Infrastructure and Lambert Smith Hampton being used to oversee a £55 million EU-backed regeneration fund.
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