The UK government has said it may sell its stake in cross-channel rail operator Eurostar in a bid to double the amount raised from marketing corporate and financial assets.
Chief Secretary to the Treasury Danny Alexander will make the announcement later today (December 4) as he sets out the government’s National Infrastructure Plan (NIP) – a breakdown of ‘planned and potential’ infrastructure projects up to 2030.
Ministers are aiming to double the amount raised from selling off assets from £10 billion to £20 billion by 2020. The government has a 40 per cent stake in Eurostar through London and Continental Railways (LCR), the sale of which could go some way to reaching this target.
Eurostar recorded a 10 per cent rise in like-for-like sales and a five per cent increase in passenger numbers in the third quarter of 2013.
We can be sure that SNCF are already checking their bank balance with a view to making a reasonable offer which, no doubt, will be snapped up by George Osborne. They have always wanted to be in total control of Eurostar and, with a 95% shareholding, they will get their wish.