Of all the recent privatisations in England, the most valuable, and yet least recorded, is of land. According to one estimate, two million hectares, or ten percent of the Britain landmass, left the public sector for private ownership between 1979 and 2018. 1 Many of these sales have been piecemeal. The housing Right to Buy programme consists of nearly two million individual sales, raising an estimated £40 billion by 2018. 2 The One Public Estate programme, now in its fifth iteration, facilitates sales of surplus local authority assets, aiming to raise £615 million in capital receipts by 2019-20. 3 Central government sales are escalating from the five "main land owning departments" 4 , including releasing land for 235,000 (almost all privately developed) new homes. The Ministry of Defence, the government's largest landowner, is executing the Better Defence Estate Strategy to reduce the built estate by 30% by 2040. 5 NHS Property Services Ltd Land aim to release a further £2 billion's worth of property. 6 Network Rail, a public sector company, recently sold the spaces beneath the railway arches for £1.46 billion to Telereal Trillium and Blackstone Property Partners, who have created the Arch Company, the single largest small business landlord in England and Wales. 7 Central government sales of over 1000 properties have already added £2 billion to government coffers and saved £300 million per annum in running costs, including significant reductions in the numbers of civil servants. 8 The metaphorically 'small state' is also a physically small state.