piece in the Guardian today about cut-price privatisations which brought large cash benefits to a number of private sector companies.
This is an extract:
The government has been accused of shortchanging the taxpayer by “selling the family silver at a record pace” after new analysis showed a record £26.4bn raised last year through privatisation.
A final 30% state holding in Royal Mail, 11bn shares in Lloyds Bank and a stake in Eurostar were among the assets sold by ministers in a bid to pay down debt and balance the books.
The multibillion pound bonanza, details of which were compiled by the Press Association, dwarfed a previous high point in 1987 when Margaret Thatcher’s government raised £20bn selling off blue chip names such as British Airways and Rolls-Royce.
This time round, the Treasury dismissed suggestions of a politically inspired “fire sale” and promised there would be more disposals to come…