kjw Posted October 13, 2014 Share Posted October 13, 2014 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 Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted October 13, 2014 Share Posted October 13, 2014 Do sales like these count towards reducing the annual deficit? Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted October 13, 2014 Share Posted October 13, 2014 Selling them to his mates. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted October 13, 2014 Share Posted October 13, 2014 (edited) 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 October 13, 2014 by TheBlueCat Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted October 13, 2014 Share Posted October 13, 2014 Sell everything, Gid. Got to finance that monstrous 5% annual current account deficit somehow. The Tories should use the title "F***k off, Britain." for their GE manifesto. Quote Link to comment Share on other sites More sharing options...
btl_hater Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 13, 2014 Share Posted October 13, 2014 selling the family silver to make is look like they are making savings. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted October 13, 2014 Share Posted October 13, 2014 What an odd time to sell! Just as the Eurozone hits more financial problems. Quote Link to comment Share on other sites More sharing options...
R K Posted October 13, 2014 Share Posted October 13, 2014 Sell everything, Gid. Got to finance that monstrous 5% annual current account deficit somehow. The Tories should use the title "F***k off, Britain." for their GE manifesto. 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. Quote Link to comment Share on other sites More sharing options...
btl_hater Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
campervanman Posted October 13, 2014 Share Posted October 13, 2014 People who bang on about the UK having sovereignty are delusional. Sovereignty over what? Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
Corruption Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
billybong Posted October 13, 2014 Share Posted October 13, 2014 (edited) 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 October 13, 2014 by billybong Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted October 13, 2014 Share Posted October 13, 2014 Osborne's gold moment. Go long Eurostar. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted October 13, 2014 Share Posted October 13, 2014 It'll make £300 milion. What's the point when the deficit is £100,000 million? Chickenfeed. Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted October 13, 2014 Share Posted October 13, 2014 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? Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted October 13, 2014 Share Posted October 13, 2014 It'll make £300 milion. What's the point when the deficit is £100,000 million? Chickenfeed. Because he's only got until May and his mates are getting impatient. Quote Link to comment Share on other sites More sharing options...
tinker Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted October 13, 2014 Share Posted October 13, 2014 That is shocking. Ditto energy companies and water. We have been hollowed out and are now being farmed by proxy. What will be left to sell? People? Long on Soylent Green anyone? Quote Link to comment Share on other sites More sharing options...
shindigger Posted October 13, 2014 Share Posted October 13, 2014 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. Quote Link to comment Share on other sites More sharing options...
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