Cash-strapped Britain to sell off embassies – Politico
Britain’s Foreign Office is set to sell some of its overseas embassies and diplomatic housing as part of deep spending cuts, Politico reported on Friday, citing newly released government budget documents.
The ministry is reportedly reviewing its £2.5 billion ($3.3 billion) portfolio of about 6,500 foreign-based properties to identify “assets to release,” as hundreds of the buildings are in serious disrepair or deemed too expensive to maintain.
The restructuring plan also foresees cutting nearly a third of UK-based staff, the outlet said.
The budget singles out “high-cost locations such as New York,” a reference that could include the possible sale of a $15 million penthouse purchased in 2019 for diplomats at the luxury 50 United Nations Plaza complex. The seven-bedroom residence occupies the entire 38th floor and includes a library, six bathrooms, and a powder room.
Earlier this year, the National Audit Office (NAO) and parliament’s Public Accounts Committee (PAC) reported that around 933 properties, or roughly 15% of the total, are considered unsafe or not operationally sound. The Foreign Office estimates that tackling its maintenance backlog could cost £450 million.
PAC also noted that after selling major embassy compounds in Bangkok and Tokyo in recent years, the Foreign Office “has no remaining large assets that are viable to sell.”
Overseas, the ministry is reportedly reviewing the scale and location of its global network of more than 250 posts in over 150 countries.
The Foreign Office is also cutting employees to reduce spending, with redundancy offers reportedly being issued to UK-based staff, a process expected to reduce headcount by up to 30%.
The moves come as Britain continues to push for expanded military aid for Ukraine despite strains on its own finances. The UK remains one of Kiev’s biggest backers, supplying weapons and imposing repeated rounds of sanctions on Russia. Moscow has accused London of trying to prolong the hostilities.
