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MPs demand elaboration on privatisation plans from Osborne

Committee was referring to the numerous state assets that Osborne had listed in the emergency budget

The Treasury Select Committee has written to chancellor of exchequer George Osborne requesting details of the amount of capital that would be generated by the Coalition's proposed privatisation programme and how the proceeds would be spent, reports the Guardian.

The committee was referring to the numerous state assets that Osborne had listed in the emergency budget, which according to him could be sold. This includes the Tote, The Royal Mail, parts of the air traffic control service and the student loan portfolio.

"I'm not relying on asset sales for my deficit reduction programme and the proceeds from asset sales will be used for a number of purposes," said Osborne while appearing in front of the committee earlier this month.

Chairman of the committee, MP Andrew Tyrie has asked for more information on this proposal including a projection of the receipts expected from the sales along with a department wise breakdown of which assets have already been marked for privatisation and the accounting methodology used.