http://www.bbc.co.uk/news/uk-england-london-20126936

“The Metropolitan Police is planning to sell off its headquarters to help save £500m over the next two and half years. New Scotland Yard in Victoria, central London, would be put up for sale under proposals designed to deliver savings and boost frontline policing. Police stations across London would also be under threat, with five already approved for sale, as the force seeks to dispose of a third of its estate…The Met has been tasked by the mayor’s office with making savings of half-a-billion pounds by 2015.”

Asset sales and spending cuts are inevitable for an institute that’s been living beyond its means for a long time. The public, duped into believing government can provide ‘free’ stuff indefinitely, will bitterly resist all cuts or asset sales of course, and that’s why I wouldn’t bet on this government or the next actually managing to avoid bankruptcy and having to take an IMF bailout (if the IMF still has any money by then). You don’t win votes by promising to take stuff away from people. Indeed, although some police stations are being sold, the London Mayor, Boris Johnson, was re-elected on the promise that he will maintain the number of police officers in London. One of many promises, no doubt.