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Public assets sale ‘will cost Britain billions’
Report tears apart Osborne privatisation plan
CHANCELLOR George Osborne’s plans for a Great British sell-off of profitable public companies will cost taxpayers over £7 billion, experts warned today.
The Land Registry, National Air Traffic Services, the Ordnance Survey and Channel 4 have all been earmarked for complete or part privatisation to score a quick fix of cash for the Treasury and shave the national debt.
But a study by the New Economics Foundation (NEF) warned for campaign group We Own It warns that the short-term gains will be eclipsed by huge losses in future profits.
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