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Government to sell assets for £16bn

The Government plans to reduce national debt by £16bn by selling off “non-financial assets”.

The plans will impact on the country’s infrastructure, with the Dartford crossing and the channel tunnel rail link among the items named to be sold. Other assets on the list include the Tote, the Student Loan book and surplus real estate.

The sell-off plans have been introduced as an alternative to the large spending cuts proposed by the Conservatives, which the Labour Government argues would prevent economic recovery.

The money raised will enable the Government to fund new capital investment and to pay off some of its debts, according to Prime Minister Gordon Brown.

Aides said the sell-off marked the beginning of a “radical programme” to identify “non-core government business activities” that should be done in, or in partnership with, the private sector.

 

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