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Explain why you sold Britain's gold, Gordon Brown told
worldtraveller
Posts: 14,013 Forumite
The decision to sell the gold – taken by Mr Brown when he was Chancellor – is regarded as one of the Treasury's worst financial mistakes and has cost taxpayers almost £7 billion.
Mr Brown and the Treasury have repeatedly refused to disclose information about the gold sale amid allegations that warnings were ignored.
Following a series of freedom of information requests from The Daily Telegraph over the past four years, the Information Commissioner has ordered the Treasury to release some details.
The Treasury must publish the information demanded within 35 calendar days – by the end of April.
The sale is expected to be become a major election issue, casting light on Mr Brown's decisions while at the Treasury.
The Treasury has been officially censured by the Information Commissioner over its attempts to block the release of information about the gold sales.
The Information Commissioner's decision itself is set to become the subject of criticism. The commissioner has taken four years to rule on the release of the documents, despite intense political and public interest in the sales. Officials have missed a series of their own deadlines to order the information's release, which will now prevent a proper parliamentary analysis of the disclosures.
It can also be disclosed that the commissioner has held a series of private meetings with the Treasury and has agreed for much of the paperwork to remain hidden from the public. The Treasury was allowed to review the decision notice when it was in draft form – and may have been permitted to make numerous changes.
In the official notice, the Information Commissioner makes it clear that only a "limited" release of information has been ordered.
If the information is not released by the end of April, the Treasury will be in "contempt of court" and will face legal action.
Telegraph.co.uk
I posted this article recently on another thread, but wondered if anyone had heard exactly when (if!) this information will be released?
Mr Brown and the Treasury have repeatedly refused to disclose information about the gold sale amid allegations that warnings were ignored.
Following a series of freedom of information requests from The Daily Telegraph over the past four years, the Information Commissioner has ordered the Treasury to release some details.
The Treasury must publish the information demanded within 35 calendar days – by the end of April.
The sale is expected to be become a major election issue, casting light on Mr Brown's decisions while at the Treasury.
The Treasury has been officially censured by the Information Commissioner over its attempts to block the release of information about the gold sales.
The Information Commissioner's decision itself is set to become the subject of criticism. The commissioner has taken four years to rule on the release of the documents, despite intense political and public interest in the sales. Officials have missed a series of their own deadlines to order the information's release, which will now prevent a proper parliamentary analysis of the disclosures.
It can also be disclosed that the commissioner has held a series of private meetings with the Treasury and has agreed for much of the paperwork to remain hidden from the public. The Treasury was allowed to review the decision notice when it was in draft form – and may have been permitted to make numerous changes.
In the official notice, the Information Commissioner makes it clear that only a "limited" release of information has been ordered.
If the information is not released by the end of April, the Treasury will be in "contempt of court" and will face legal action.
Telegraph.co.uk
I posted this article recently on another thread, but wondered if anyone had heard exactly when (if!) this information will be released?
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments
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It was actually a bailout0
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I think we just need to get over this now...0
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If he'd sold it to Cash4Gold.com he'd have gotten a much better price.0
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I think we just need to get over this now...
Oh, I don't know. As an investor I want to know how his mind has worked on gold value, particularly over the past 10 years or so, as it would appear that anyone who wants to buy or sell gold should do exactly the opposite to what he has been thinking.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Really? I think he should be on trial for it.
Did he not sell it at the market price at the time?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Really? I think he should be on trial for it.
:rotfl: A slight overreaction maybe?! So it was a bad decision. Are you suggesting people get put on trial for making bad decisions?
Someone launching an illegal war (for example!) should go on trial. But for selling a commodity at a bad time? That is just absurd.Running Club targets 20105KM - 21:00 21:55 (59.19%)10KM - 44:00 --:-- (0%)Half-Marathon - 1:45:00 HIT! 1:43:08 (57.84%)Marathon - 3:45:00 --:-- (0%)0 -
Was this physical bars of gold in a vault?
Better to sell and make use of the money than to hoard it.
The price it was sold for will be judged by the electorate.
Many denationalised industries subsequently rose in value.Been away for a while.0 -
It's symptomatic of a wider plundering of the nations assets by successive governments.
Our nuclear energy future? In the hands of a French company now.
Airwaves? Sold off for profit.
Rail/Utilities? Likewise, profit.
Overseas aid? Look at the scandalous profit made from the formation of Actis and it's relationship with the CDC.
The biggest irony is the landlord of the buildings the Revenue people inhabit is a company based off-shore, to prevent tax of course.
Brown and his pals must be running out of things to sell...0 -
I think you may find the info is not published by the date.
The Telegraph know exactly why it will not get published.Not Again0
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