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Is the UK government looking to sell the family silver?

As UK national debt continues to balloon with some forecasting a figure of between £2 trillion and £3 trillion there are concerns that the government is looking to sell off "the family silver". Already we have seen plans for a part sale of the Royal Mail together with initial conversations regarding the Royal Mint and other assets from the treasure chest of taxpayer owned and taxpayer controlled operations.

As we have seen with the proposed Royal Mail sale, where the announced pension fund liability of £6 billion could eventually double, it would appear the government is desperate to raise significant funds as quickly as possible. There is a feeling that as we approach the next general election the authorities would rather sell off various assets, in potentially difficult economic times, thereby giving themselves breathing space before introducing significant tax rises. An increase in taxes prior to the general election would not go down well and would probably curtail any chances of re-election for the Labour government.

Unfortunately UK taxpayers and the various taxpayer pressure groups around the country will have little say in the eventual sale of various assets over the coming months. As the recession continues to drag on there is no doubt that the scar left on UK society will be visible for many years to come.

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