The councils selling the family silver to pay bills [Yahoo! Finance]
DEUTSCHE POST AG S/ADR (DPSGY)
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Source: Yahoo! Finance
Car parks, land earmarked for new homes, and even galleries and museums are being offered for sale to meet short-term debts. But others are refusing to cash in, even though they say they have never faced a more difficult financial crisis. Labour-run Southampton City Council is aiming to raise £121.6m from sales of assets. The city's 800-year-old Tudor House and Gardens is on the list, along with car parks, offices and art galleries. Councillors want to give first choice to institutional purchasers who will keep property in the public sector. The council is one of six granted what the government calls "exceptional" permission to break the golden rule of not meeting revenue shortfalls with cash from the capital account. A spokesman for the Department of Communities said: "This is about having a pragmatic approach and agreeing financial flexibilities to help them balance their budgets and deliver vital services." Selling the family silver But the idea of "selling the famil
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