British Government to Sell State and Public Assets to Help
British Government to Sell State and Public Assets to Help Pay Off Debt
Monday, October 12, 2009
In a bold effort to help pay down government debt, British Prime Minister Gordon Brown announced a major sale of state and public assets on Monday, Times of London reported.
The sale of assets reportedly totals $25 billion and includes some famous landmarks in Britain, including the Channel Tunnel, better known as the “Chunnel."
The Dartford Crossing and the nationalized bookmaker the Tote will also be sold over the next two years, according to the newspaper.
More controversial moves are the privatization of the Student Loan Book and the sale of the government’s stake in Urenco, a group which runs uranium enrichment plants in Britain, Germany and the Netherlands.
The government currently has a 33 percent stake in Urenco, according to BBC News.
The government will sell its stake in the uranium company “subject to security issues being resolved,â€