The intention to sell was set out last year in the government's Autumn Statement and National Infrastructure¹ Plan. 

 

Under the plan the government hopes to raise about £20bn from corporate² and financial asset sales by 2020. 

 

The RMT union and the Labour Party have voiced concerns about selling Eurostar.

 

Chancellor³ George Osborne said on Monday: "I am determined⁴ that we go on making the decisions to reform the British economy and tackle our debts. So we will proceed with the potential sale of the UK's shareholding⁵ in Eurostar today.

 

"Ensuring that we can deliver the best quality infrastructure for Britain and the best value for money for the taxpayer⁶ are key parts of our long-term economic plan."

 

Mr Osborne added: "As part of our aim to achieve £20bn from assets sales by 2020, the sale proceeds would make an important contribution to the task of reducing the public sector⁷ debt."

 

But Mick Cash, general secretary of the RMT rail union, said the Eurostar sale could see more of the UK's railways in foreign hands.

 

"This compounds the issue of foreign ownership of Britain's railways as the French state has first refusal on our slice of the highly profitable Eurostar cake. The French and Belgians think we are insane knocking off such a valuable and strategic infrastructure asset," he said.

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