Selling off the family silver…

The Conservatives announced the planned move to privatise the government’s 40% share in Eurostar. The proposed rationale for this move is to target the national debt. The plan to privatise has echoes of 1980s Thatcherism. However the rationale is questionable, the £300 million it will raise is a drop in the ocean compared to the £1.4 trillion public debt burden. In fact the Today programme this morning likened it to rummaging down the back of the sofa for loose change.

The government has set itself the target of selling £20bn in public assets by 2020- with Royal Mail already sold for £2bn and the student loan book and the nuclear waste processing organisation Urenco also on the radar for sale. These are good example of Thatcherism being alive and well in the Tory party.

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