HOW WILL 'ASSET SALES' AFFECT BRISTOL? (Paul Harrod)

HOW WILL 'ASSET SALES' AFFECT BRISTOL?

October 13, 2009 10:00 AM

Ten years ago the then Chancellor Gordon Brown sold off half of Britain's gold reserves when the price was at a twenty year low. That decision has cost us billions of pounds.

So we should sceptical about his announcement to sell off more state assets during a recession.

It may make sense to sell off the Tote and the Dartford tunnel, but what about his comment that local Councils could be asked to sell some of their assets to help fill the Government's financial black hole?

In Bristol we are looking at selling genuinely surplus land and use the money to invest in better play equipment and parkland. Surely the Government is not expecting that money to be diverted to the Exchequer instead?

Local Councils across Britain have been asked to do more with less money by successive Governments, and have had to bridge the gap with above-inflation Council Tax rises.

Whatever assets Bristol City Council is "asked" to dispose of must benefit the people of this city - not get Gordon out of a financial crisis partly of his own making.