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MoD property deal 'could cost taxpayer up to £5bn'

MPs criticise 1996 deal to sell off military homes to group managed by Guy Hands

Taxpayers could face losses of more than £5bn because of a “disastrous” decision to sell off military homes during a housing boom, a report by parliament’s spending watchdog indicates.

The public accounts committee believes that the previous estimated loss of up to £4.2bn after selling and leasing back 55,000 family homes for the military will rise when a new rental deal is renegotiated in three years.

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