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George Osborne Has Billions In War Chest To Cut National Debt

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http://www.telegraph.co.uk/finance/economics/8190175/George-Osborne-has-billions-in-war-chest-to-cut-national-debt.html

Proceeds from asset sales and privatisations have not been included in the Coalition's austerity measures, but may amount to several billion pounds. High Speed 1, the rail link between London and the Channel Tunnel, has already been sold for £2.1bn, while the Government's interests in NATS, the air traffic control service, and The Tote may raise as much as £700m.

Stakes in the student loan book, the Royal Mail and property assets may also be sold, as the Treasury revealed in the Budget. A planned auction of the spectrum for the next generation of mobile broadband could raise a further £4bn, analysts estimate. Andrew Tyrie, chairman of the Treasury Select Committee (TSC), said the proceeds could amount to "tens of billions of pounds".

He added: "That's quite a lot to have in your back pocket as the years go by, in order to improve the public finances."

George Osborne confirmed to the TSC that the potential sales have not been costed and are not included in official forecasts. He added: "There may opportunities to reduce the national debt from large asset disposals or privatisations, but I'm not wholly rigid about that."

Ministers might be able to argue that some of the proceeds from asset sales could be used to finance new departmental spending plans, he said, but added: "They would have to present a very strong case for that ... rather than to reduce the debt."

George you are genius the govt is still borrowing money to meet it's current shortfall as income isn't meeting expenditure but your going to pay off some of the debt are you with your little war chest.

Could amount to 10 of billions could it...

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Crisis, what crisis? I might have to join RB in the bullosphere!

I think you may be getting it.

Sad isn't it? :(

What a messed up country we live in. No wonder my parents bailed in the 60's.

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One of the "assets" quoted is student debt.

Just gobsmacked.

One of the main reasons for going to a student loan system was to create poker chips 'assets' for the financial sector to play with.

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http://www.telegraph.co.uk/finance/economics/8190175/George-Osborne-has-billions-in-war-chest-to-cut-national-debt.html

George you are genius the govt is still borrowing money to meet it's current shortfall as income isn't meeting expenditure but your going to pay off some of the debt are you with your little war chest.

Could amount to 10 of billions could it...

From your quote it looks like it might, at a stretch cover the 7bn Irish bailout, which also wasn't accounted for in their austerity measures.

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http://www.telegraph.co.uk/finance/economics/8190175/George-Osborne-has-billions-in-war-chest-to-cut-national-debt.html

George you are genius the govt is still borrowing money to meet it's current shortfall as income isn't meeting expenditure but your going to pay off some of the debt are you with your little war chest.

Could amount to 10 of billions could it...

They have more than £300 in properties! But they don't think this is the right time to sell! :unsure:

I think they have an unqualified idiot as head of the "Property Unit". He sounds like an estate agent. Here: http://www.housepricecrash.co.uk/forum/index.php?showtopic=155848

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One of the "assets" quoted is student debt.

Just gobsmacked.

In feudal times, serfs were assets, and if you harmed one you had to reimburse the lord for his loss.

It's sort of like those schemes, where you are smuggled into utopia, but have to pay back the smugglers thousands and thousands of pounds by prostituting yourself before you get your life back...at about the time you are shagged out, no use to anyone, and all your hopes and dreams have been stolen or destroyed. There is usually a public outcry and much tut-tutting by politicians when this happens to Belorussian women. Not so much when they do it to our kids.

Now stop wasting time on the internet, peasant, and get back to your spreadsheet.

Edited by Tiger Woods?

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http://www.telegraph...ional-debt.html

George you are genius the govt is still borrowing money to meet it's current shortfall as income isn't meeting expenditure but your going to pay off some of the debt are you with your little war chest.

Could amount to 10 of billions could it...

Funny coincidence that 'they' let the supa-wealthy inflate their wealth many times over without extra taxation - then sell off infrastructure & parts of the UK piecemeal to them!

Successive UK Govts are scheming thugs in cahoots!

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In feudal times, serfs were assets, and if you harmed one you had to reimburse the lord for his loss.

It's sort of like those schemes, where you are smuggled into utopia, but have to pay back the smugglers thousands and thousands of pounds by prostituting yourself before you get your life back...at about the time you are shagged out, no use to anyone, and all your hopes and dreams have been stolen or destroyed. There is usually a public outcry and much tut-tutting by politicians when this happens to Belorussian women. Not so much when they do it to our kids.

Now stop wasting time on the internet, peasant, and get back to your spreadsheet.

Now we are worth less than slaves and human trafficking is punished because we were counting on the minimum wage labour to boost gdp

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He added: "That's quite a lot to have in your back pocket as the years go by, in order to improve the public finances."

It'll be a handy "war chest" coming to fruition for the next bail-out of Ireland, the banks, you name it - in the not too distant future.

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Funny coincidence that 'they' let the supa-wealthy inflate their wealth many times over without extra taxation - then sell off infrastructure & parts of the UK piecemeal to them!

Successive UK Govts are scheming thugs in cahoots!

It's the tory party.

WHY ARE YOU SUPPRISED BY THIS?

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They sold High Speed 1 for 2bn?

It cost a ****** load more than that to build.

leased it for a short time.

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It's the tory party.

WHY ARE YOU SUPPRISED BY THIS?

Supprise?

In the C19th all the knobs made sure one of their sons became a vicar.

The UK church elites then quietly handed over millions of C.of.E acres (used to support upkeep of churches) over to the vicars.

The Elite's sons then quietly sold off all this land chEEp to Mater and Pater!

I always wundered how the Rev's afforded to build those 10 bedroom vicarages in them VICky times, employ live-in maids, cook, gardeners and grooms!

'Lords' of their Manner!

Then I stumbled upon the answer - but wozn't surprised!

TEA Vicar?

Edited by erranta

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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