PM to announce assets sale

The Government is to stage a £16 billion asset sell-off as part of moves to stabilise the public finances, Gordon Brown will announce today.

The Prime Minister will give details of an initial round of disposals that could raise £3 billion over the next two years - including the Tote, the Dartford crossing, the Channel Tunnel rail link, and the Student Loan book.

Much of the rest of the funds will be realised by encouraging local authorities to exchange assets for cash.

The plan comes as Mr Brown seeks to persuade voters that he has a better alternative to the immediate spending cuts proposed by the Tories.