14/10/2014
Is seeking to raise 300 million pounds from the privatization process
Britain is counting on Gulf investors to buy its stake in the «Euro Star» Train
Another step from the British Government to sell more units of the public sector and privatization of the British economy. The last step was to invite the British Government Finance Minister George Osborne to investors to make bids to buy Britain's share of 40 per cent of the ' Eurostar ', is a rapid transit train service linking Britain with France and Belgium. London's decision is part of its efforts to sell State-owned assets valued at approximately £ 20 billion by 2020, hoping to help reduce the public debt. As the Minister of Finance announced that the opportunity for investors to make their shows until the end of this month, it also indicated that the Government intended to raise 300 million pounds from the sale to reduce the national debt and the interest of taxpayers. He said for the ' economic ' Richard Bob consultant in the Ministry of finance ' very open towards the Government of investors wishing to purchase, and we hope that the businessmen and Gulf investors among applicants bids for British quota '.
And British sources aims at Singapore and Kuwait and Qatar, Chinese banks, to participate in the bidding to buy the euro star, having repeatedly demonstrated a desire to invest in infrastructure in Europe, specifically the United Kingdom one of the most attractive European economies to foreign investment. But the British decision irritated labor unions announced they will fight him with all the ferocity, while the opposition labor party warned the Government on the move after what they saw as scandals have occurred during the process of selling shares in the Royal Mail a few months ago, where they evaluated the stock undervalued, resulting in a loss of State and taxpayers millions of pounds during the sale process. And hung for the ' economic ' Edward McColl is a member of the labour party saying ' taxpayers with losses estimated in the millions, the privatization of Royal Mail. It has estimated its value at time £ 3.3 billion, which is less than its value, which arrived in April last year, with £ 5.6 billion '.
He said: ' the sale of Royal Mail has many mistakes and the company that was responsible for the evaluation process earned millions for pricing stock value less than what they are, and the company itself is part of the evaluation process of Eurostar '. Some wonder what drives the British Government to get rid of their share of the strategic and important project such as Eurostar? Even more surprising is that economic standards project achieves good profits. During the past year yielded dividends estimated at 882.2 million, with profits of 73.3 million total employees 1,600 people. Answers to ' economic ' Dr Peter Hill, a Professor of finance at University of Newcastle saying ' traditional view of privatization is that the Government is selling the assets of State-owned and loss-making, but the Finance Minister Osborne is guided by this conviction, it belongs to a school refuse to State ownership of any type of assets, so that the profits '. The school from the private sector institutions through which higher profits and more importantly the sale relieves many Government burdens on the public budget.
And Osborne has succeeded over the past year in raising approximately £ 1.98 billion for the British Treasury, due to the sale of Royal Mail and reducing the Government's stake in Lloyds Bank. The Conservatives and their allies hope of Liberal Democrats to get rid of Euro star before the general elections scheduled for May next year, hoping to lead the euro star shares for sale to the public to increase schemes that. The law allows ownership of Eurostar to Belgium and France to buy about 15 percent of the British, it is doubtful that do that. Eurostar train was first started in 1994, and journeys through a partnership between France, Britain and Belgium, each accounted for 55 per cent and 40 per cent and 5 per cent respectively. The Eurostar to transfer 145 million passengers since the start, and in 2013 the number of passengers reached ten million passengers.
