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Osborne Puts Stake In Eurostar Up For Sale

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Chancellor George Osborne has said the Government is seeking bidders for its 40% stake in the Eurostar rail service to help reduce Britain's public sector debt.

Potential buyers have until the end of the month to make an expression of interest.

The Government said it expected to reach "definitive agreements" in the first quarter of 2015.

The sale forms part of the Government's plan to sell £20bn of corporate and financial assets by 2020.

Mr Osborne said: "I am determined that we go on making the decisions to reform the British economy and tackle our debts, so we will proceed with the potential sale of the UK's shareholding in Eurostar today. [more at link]


http://news.sky.com/story/1351900/osborne-puts-stake-in-eurostar-up-for-sale

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Do sales like these count towards reducing the annual deficit?

Selling revenue generating assets to pay for overspending on projects like help-to-buy and 12% MP's pay rises.

It shouldn't count, but the bent accountants in this country make it up as they go.

It's like selling your power tools to pay for a weekend on the beer.

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Do sales like these count towards reducing the annual deficit?

No, but they do reduce the total owed.

edit: possible Freudian slip: owned to owed.

Edited by TheBlueCat

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Selling revenue generating assets to pay for overspending on projects like help-to-buy and 12% MP's pay rises.

It shouldn't count, but the bent accountants in this country make it up as they go.

It's like selling your power tools to pay for a weekend on the beer.

Sure, if you're 100% certain they will continue to be a revenue generating asset. Let the private sector take that risk if you ask me.

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Sell everything, Gid. Got to finance that monstrous 5% annual current account deficit somehow. :rolleyes:

The Tories should use the title "F***k off, Britain." for their GE manifesto. :lol:

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It's the excuse that selling off public assets is to "reduce the deficit" that really grates. If you want to pay off some of our debts then stop using tax payers money to rig the housing market.

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selling the family silver to make is look like they are making savings.

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Sell everything, Gid. Got to finance that monstrous 5% annual current account deficit somehow. :rolleyes:

The Tories should use the title "F***k off, Britain." for their GE manifesto. :lol:

iIt's financed at negative real rates.

For some reason being able to borrow money for which the lender has to pay YOU is seen as a bad thing.

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selling the family silver to make is look like they are making savings.

Genuine question: apart from Royal Mail are there any other examples of selling public assets? I assume there are, but maybe they were not in the news as much as they perhaps could have been.

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Genuine question: apart from Royal Mail are there any other examples of selling public assets? I assume there are, but maybe they were not in the news as much as they perhaps could have been.

They tried flogging the land registry a few months back.

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They ought to flog the BBC if they want to make some decent inroads to paying off the debt.

BSKYB is worth 15 Billion, itd have to be worth many times this with all its channels and radio station.

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Mr Osborne said: "I am determined that we go on making the decisions to reform the British economy and tackle our debts, so we will proceed with the potential sale of the UK's shareholding in Eurostar today.

Strangest reform and tackling ever known. Except for the lot before them and so on..............

Edited by billybong

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SNCF, the majority shareholder (just, at 55%) had first refusal, but refused to pay the money being asked for the 40%.

How awkward can a majority shareholder make things for a minority shareholder it doesn't like?

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People who bang on about the UK having sovereignty are delusional. Sovereignty over what?

Not the railways, anyway.

20 of the 27 train operating companies with franchises are now owned by foreign firms.

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They ought to flog the BBC if they want to make some decent inroads to paying off the debt.

BSKYB is worth 15 Billion, itd have to be worth many times this with all its channels and radio station.

Indeed. I recken the last thing BSKYB want is a privatised BBC. Rather just break it up into bits and sell it off in pieces to various other media groups, effectively killing it.

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Not the railways, anyway.

20 of the 27 train operating companies with franchises are now owned by foreign firms.

That is shocking.

Ditto energy companies and water. We have been hollowed out and are now being farmed by proxy.

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So 20 years after the company was formed it is now making a profit. Not looked at the total losses / investment over the years but doubt the recent profits have wiped out their accumulated debt. So now it is making money George will let his mates in the city sell it to some of his other mates in the city; trebles all round. If in a few years it starts to make a loss due to say the private equity company 'fee's etc (can you see what is coming yet) it will be bailed out by the taxpayer .... rinse and repeat.

Yup, it think at least half the country must have got this by now.

I bloody well hope they have.

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