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Some £4.5 billion of the privatisation receipts expected during the next five years by the Tories were not attributed to specific assets.
Then, under arbitrary assumptions regarding growth rates, inflation, privatisation receipts, and so forth, they compute what primary surpluses are necessary in every year, working backward to the present.
Although there was one offer for DESFA, which operates the gas grid and is a subsidiary of DEPA, a big hole has opened up in this year's planned privatisation receipts of €2.6 billion ($3.4 billion).
Despite recent stockmarket falls, the government may meet or better its budget for privatisation receipts (132 billion rupees, or nearly 0.5% of GDP) for the first time since 1998-99.
Similarly, it plans to tackle homelessness by using receipts from council-house sales: this means more spending, and more borrowing by local authorities.New Labour has not said how it is going to make up the likely loss of privatisation receipts if it carries on being sniffy about privatisation in office.
And privatisation receipts are disappointing: Greece will miss this year's target by a wide margin.The picture is only a little better in Portugal, where the costs of two years of unremitting austerity have pulled Pedro Passos Coelho's ruling coalition apart, triggering a political crisis.
Similar(54)
Keep all receipts.
Compare receipts.
Another option might be to use the receipts from Iran's long-heralded privatisations.
* "What Makes Privatisation Work?
Privatisation is unpopular.
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