United Kingdom

UK proposes a garage sale, needs the money

The news in the UK reporting that 10 Downing Street is planning on selling "non-core" government assets to make up for a budget shortfall.  Currently, the Brown government is running a budget deficit and is struggling to find ways to meet that difference between revenues and outlays. The sale also was to meet the rising demand to deal with their debt.  One way, the government proposed today, was the sale of assets ranging from stakes in businesses to looking at it's real estate portfolio that was valued at £220 billion .

This also comes into play with a concerted effort to reduce government spending.  I cannot help but think that what we're seeing in the United Kingdom is a future mirror of what will happen here. 

The plan is to sell a "portfolio of non-financial assets" held by Whitehall and local authorities over the next two years.