20 January 2016
RMT Press Office:
RMT responds to today's public accounts committee report on Eurostar sell-off.
General Secretary Mick Cash said:
“However you dress it up the fire sale of the UK’s Eurostar stake before the election has cost the taxpayer billions in wasted investment and lost future profits. The total British public investment in Eurostar racks up at £3 billion and yet we got back just £757 million for our stake and that is a gross rip-off by anyone’s standards.
“This Public Accounts Committee report is wholly inadequate and lets those responsible for knocking out our Eurostar stake at a rock-bottom price, in a mad dash to privatise, off the hook. The recommendations will do little or nothing to prevent a repeat of the Eurostar travesty.
“With another £62 billion of our public assets set to be flogged off under this Government the Eurostar fiasco paints a grim picture of profiteering and bargain basement deals that rob the British people blind. Our family silver is being unloaded by the Tories to their friends and backers in the City at knock-down prices in a process driven by a combination of stupidity, greed and Thatcherite ideology.”