Adam Smith Institute identifies £90 billion of privatisation

[TrueBlueTerrier]

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Adam Smith Institute identifies £90 billion of privatisation possibilities

On Friday the Adam Smith Institute published a report calling on David Cameron to sell the government's stakes in the nationalised banks, Royal Mail, Network Rail, BBC Worldwide, Channel 4 and other state assets. The report - by Nigel Hawkins - estimates that £90 billion could be raised.

The privatisation candidates are summarised in the table below and there's more in this PDF

[DirtyHarry]

The Adam Smith institute, it's thanks to clowns like that organisation, we, as a nation, have very little we can call our own, why the rich in this God-forsaken country are becoming increasingly intrusive in the everyday lives of ordinary working people, and why a fair, just, equitable society, is as far away from us now, as it ever was.

[BELIAL]

Just a thought , but going on those figures ,If the CWU offered to take over the running of RM as well as the pension fund then the govt would have to pay us £4 billion . With £4 billion + the escrow account you could repay the loan and allow the govt to settle the balance over a reasonable period at market rates of interest

[TrueBlueTerrier]

Adam Smith Institute is the Militant Arm of the CBI.

Their basically the Polar Opposite of Socialism or even Communism.

[fishtank]

It's quite strange to see the tote up there because technically the Goverment doesn't own the tote it just appoints the board.
The Totalisator Board is a body corporate with perpetual succession and a common seal. The net profits of the Tote essentially go back into the racing industry.
Technically, it is these appointed board members who are responsible for the assets owned by the Tote but they do not actually own the assets. Therefore, before the Tote could be sold it would be necessary to introduce primary legislation to change its status and bring it fully within public ownership.
So basically the Goverment would have to steal it before they could sell it....thieves the feckin lot of them.

[DGP1]

Adam Smith Institute is the Militant Arm of the CBI.

Their basically the Polar Opposite of Socialism or even Communism.

[belle smith]

Just a thought , but going on those figures ,If the CWU offered to take over the running of RM as well as the pension fund then the govt would have to pay us £4 billion . With £4 billion + the escrow account you could repay the loan and allow the govt to settle the balance over a reasonable period at market rates of interest

Point of intrest Belial, altough the pension scheme has a 'deficit' of £8billion. The hole in the scheme is a lot bigger, they currently only have half the money they need to meet the obligations made.

If you look at latest trustee report, sent to members of the scheme they tell you the funding position if the scheme was "wound up" it says "the plan could meet 49% of it's commitments".

The letter aledgedly from Jane Newell that mandaleson Published said much the same 50% on "winding up".
They aren't joking about that!

[Spedley]

Assuming Royal mail has 100,000 emplyees and the business is worth £4b then our 10% would be worth £4k each. I don't think they'd get any opposition with £500 bonus let alone £4000 !

[borders]

The Adam Smith institute, it's thanks to clowns like that organisation, we, as a nation, have very little we can call our own, why the rich in this God-forsaken country are becoming increasingly intrusive in the everyday lives of ordinary working people, and why a fair, just, equitable society, is as far away from us now, as it ever was.

spot on Harry , imagine the size of the bonuses flying around for being the middleman in those deals .

[baldrick]

Didn't Mandelson want £3bn last year for a one-third stake in RM? So it must have been worth £9bn then.
So why is the Adam Smith Institute saying RM is worth £4bn now?

[nickb35]

2 thirds of the £90 bn privatisation is the banks which were only recently acquired by the state,so its inevitable they will be sold back to the private sector,when they return to profit,that was always the plan.

Nothing in uk is safe cadburys was sold to the americans without a fight or any intervention by the goverment and now the royalmail will be sold to the Dutch or Germans or anyone who wants it,it certainly wont remain a british owned company as there are no companies left big enough in this country who could afford it.

[TrueBlueTerrier]

The list of shame

Former UK Companies now in foreign hands:(list may not be entirely accurate as source is from 2006)

OXO - Campbells in USA
WEETABIX - US Firm Hicks Muse Tate & Furst
HAMLEYS - Icelandic group Baugur
ROWNTREE - Swiss firm Nestle
BENTLEY cars - German Volkswagen
ROLLS ROYCE cars - German firm BMW
CHELSEA FC - Russian tycoon Roman Abramovich
TY-PHOO TEA - Indian firn Apeejay Surrendra
P & O Ferries etc - Dubai Ports World
HP SAUCE - US Firm Heinz
MANCHESTER UNITED FC - US Tycoon
TETLEYS BITTER - Danish brewers Carlsberg
HARRY RAMSDEN Restaurants - Swedish Wallenberg family
ROVER cars - first BMW now Chinese
MINI cars - BMW Germany
THE BODY SHOP - L'Oreal France
HARRODS department Store - Egyptian tycoon
FORTNUM & MASON - Whittington Investments Canada
LONDON ELECTRICITY - Electricite de France
Most British Aluminium Producers - ALCOA USA OR Alcan Canada
LOTUS cars - Malaysian Group
MIDLAND BANK - HSBC Hong Kong
ALLIED DOMECQ- Pernod Ricard France
EXEL Logistics - Deutsche Post Germany
O2 phones - Telefonica Spain
PILKINGTON GLASS - Nippon Sheet Glass Japan
BOC - Linde Germany
BOOTS - BASF, Germany
RECKITT & COLMAN (Dettol, Senokot, Reckitts Blue, Mr Sheen, Brasso etc) - Benkiser, Germany
SMITH & NEPHEW (Elastoplast, Nivea) - Beiersdorf, Germany
RITZ HOTEL - Carlton Hotels, USA
SAVOY, CLARIDGES, CONNAUGHT & BERKELEY HOTELS - Fairmont Hotels, USA
CUSSONS (Imperial Leather etc.) Paterson Zochonis, Greece
HOTPOINT - Indesit, Italy

[fishtank]

BP....the artist formally known as British Petroleum although the initials BP now stand for nothing according to the company.
Largest shareholder...JPMorgan Chase...the American gamblers and shysters who needed $25,000,000,000 U.S from the American Congress just to save them from going to the wall.
And then of course the gulf oil spill happened and the Americans started calling BP...British Petroleum again.

[Darren Bent]

Government need their own businesses to make money otherwise they can only rely on Taxes to make money. Which is a bad thing.

[baldrick]

Government need their own businesses to make money.

But not if they slash services that they previously funded.