The UK government is seeking buyers for its 40% stake in the cross-Channel train operator Eurostar to help boost the public finances.
The RMT union and the Labour Party have voiced concerns about selling Eurostar
(George Osborne said) "Ensuring that we can deliver the best quality infrastructure for Britain and the best value for money for the taxpayer are key parts of our long-term economic plan."
http://www.bbc.co.uk/news/business-29588412Mary Creagh MP, Labour's shadow transport secretary, said: "The National Audit Office should urgently conduct a value-for-money enquiry before this sale proceeds.
"We must ensure that taxpayers are not ripped off again by bungling ministers and poor financial advice from the City,"
Those interested in buying this share in Eurostar have until the end of this month to express their interest to the Treasury.
Personally, I think this is crazy! How do you improve this country's infrastructure by selling off its existing infrastructure and then using the proceeds (almost bound to be sold for less than the true value) to pay down the national debt? For some of you, this will be proof that I'm no economist; but surely Eurostar, a thriving and growing service, returns profit to its three shareholders – of which the Treasury is one. And in further bad news, from the same article:
Recently, I read that Osborne was planning to sell off the UK's gas-storage facilities. And that strikes me as just about as crazy and short-term-ist as was closing down all those coal-mines both recently announced and back in the eighties and nineties. Yes, coal needs either phasing out completely or massive R&D efforts in pursuit of working carbon-capture technology. Investment, not sell-offs and sell-outs and loss of control over energy security. Unless the coal-mines have been moth-balled in the expectation that, in a few millions of years, the coal will turn into diamonds and our descendants will all be as rich as Croesus. Now, that would be a 'long-term economic plan'. And our descendants would most likely be the exploited miners whilst the descendants of our current masters remain the masters. /rant...Other possible asset sales include the government's stake in the uranium enrichment company URENCO, legacy Royal Mail pension assets, and the government's student loan book.
The Treasury has decided against selling off the Royal Mint, principally because it would not raise enough money.
Edits: grammar and spilling-mastooks