HOSIE WARNING ON DOWNING STREET LOW COST ASSET SELL OFF.

HOSIE WARNING ON DOWNING STREET LOW COST ASSET SELL OFF.

Commenting on plans by Gordon Brown to raise £16bn from the sale of assets, SNP Treasury spokesperson Stewart Hosie MP warned about the risk of selling off assets in a depressed market.

Mr Hosie said:

“This is not so much an asset sale as it is a Downing Street fire sale – it would barely pay for one months borrowing. In fact this announcement is a rehash of previous commitments, some dating back ten years.

“Gordon Brown sold off half the UK’s gold reserves at the bottom of the market, and the worry now is he will now try and flog off other assets in a depressed market.”