ABSTRACT
This chapter examines the development of local authority property management in terms of the value for money test: land audits; property reviews and transition towards the economy, efficiency and effectiveness advocated by the Audit Commission and Chartered Institute of Public Finance and Accountancy. According to W. Britton, O. Connellan and M. Crofts, a land audit or property review is a process by which systematic attention is given to each interest in landed property by a team of qualified people working to close brief. The problem with leaving the subject at the legal and social level of analysis is seen to lie in the tendency it has to put the estate in what is referred to as in a state of 'hypostatis'. Under the progressive legal and social reforms of the modern welfare state, the government is required to follow Keynesian doctrine on employment, money and interest.
