Brown Plans Sale of $4.8 Billion in State Assets to Cut Deficit


[Skip to the end]

Sell real goods and services into a deflationary economy?

Brown Plans Sale of $4.8 Billion in State Assets to Cut Deficit

By Gonzalo Vina

Oct. 11 (Bloomberg) &8212; U.K. Prime Minister Gordon Brown tomorrow will propose the sale of state assets including the Tote, the student loan book and the Dartford Crossing across the river Thames to raise about 3 billion pounds ($4.8 billion) to reduce the government budget deficit.

Brown will make the announcement tomorrow in London, according to a statement issued by his office today.


[top]

Darling Says Conservative Plans Risk ‘Crashing’ U.K. Economy


[Skip to the end]

Good to hear this kind of talk:

Darling Says Conservative Plans Risk ‘Crashing’ U.K. Economy

By Gonzalo Vina

Oct. 5 (Bloomberg) — Chancellor of the Exchequer Alistair Darling said the Conservative Party plans to cut spending and welfare programs risked “crashing” the British economy, his strongest attack yet on the opposition as the election nears. Darling said Conservative leader David Cameron’s plan to phase out the “New Deal” welfare programs built up by the Labour government would hurt the nation’s poorest people and that cutting the budget deficit now would threaten the recovery.

“Proposing to end support for the economy and scrap the New Deal is entirely wrong and downright daft,” Darling told reporters in Istanbul today after attending a meeting of finance ministers from the Group of Seven. “Either he doesn’t understand what he is doing or he is not coming clean about what he is doing. Nobody else is advocating what he is proposing.”


[top]