Chancellor George Osborne has revealed £4.5bn of measures he plans to enact to bring down national debt…
A new raft of austerity measures have been released by the Chancellor George Osborne
today. It is hoped these cuts will enable the government to reduce
national debt, but the news will undoubtedly be of concern to public
services.
One of the major revelations is the plan to sell the government’s
remaining shares in Royal Mail, which will complete the privatisation of
the postal service. The government currently has a 30 per cent stake in
the company worth around £1.5bn. The remaining of 70 per cent shares
are held by a combination of employees and private investors.
Privatisation was started with an Initial Public Offering of shares
in October 2013. The Department for Business, Innovation and Skills
(BIS) will start to sell its shares this year. Rothschild has been
appointed by BIS to advise on the transaction.
The Chancellor also announced he had identified further asset sales,
underspends, and efficiencies during the in-year budget review process.
Visit here website link more details - https://www.adjacentgovernment.co.uk/local-council-news/chancellor-announces-billions-cuts/
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