Treasury considers £17bn Bradford & Bingley sale
The Treasury is reportedly preparing for a £17bn sale of Bradford & Bingley.
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According to Sky News, ministers are planning to offload a '£17bn chunk of Bradford & Bingley', in what would be the biggest UK sale of financial assets.
In November, George Osborne agreed a £13 billion sale of Northern Rock mortgages in what is currently the largest ever financial asset sale by a government in Europe.
Earlier this year, UK Asset Resolution, which manages Northern Rock and Bradford and Bingley's assets, reduced its balance sheet by a further £8.8bn, bringing the total reduction to £49.7bn - down almost 43% since formation of UKAR in 2010.
Osborne announced during the Autumn Statement that the Government plans to offload a further £7.5bn of assets held in UKAR, but the Bradford & Bingley sell-off is expected to be in addition to this.
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