Brown to clear out cupboard under stairs

It doesn’t take an advanced level of numeracy to see through today’s headline non-story that the British government is to sell 16 billion pounds worth of state assets, supposedly in a bid to shore up public finances. “The funds raised will help finance new capital investment and pay down debt,” Gordon Brown will announce tomorrow.

That’s £16bn, in a one-off equivalent of a car boot sale, in the middle of a single financial year in which government borrowing is projected to reach around £200bn, give or take a few million quid.

Eight per cent.