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Government to sell off assets
27/03/2006
The government is to sell off assets including most of the state-owned nuclear industry, the Tote, public spectrum airwaves and Ministry of Defence firing ranges as part of plans which could raise up to £50bn for public spending. Chancellor Gordon Brown said he would consider the sale of the government's 65% stake in atomic generator British Energy even though this £6.5bn holding is amassing cash to pay for future nuclear liabilities. The Treasury also confirmed that its 33% share of Urenco, a uranium-enrichment business owned jointly with the Dutch and German governments, is also likely to go on the block. British Nuclear Group, which manages the Sellafield atomic fuel reprocessing plant, is also to be sold - although the government insisted no final decision had been taken.
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