Some good news in the budget and some bad:

The government is to sell off assets including most of the state-owned
nuclear industry, the Tote, public spectrum airwaves and Ministry of
Defence firing ranges as part of plans which could raise up to £50bn
for public spending.

The bad news is that he’s going to sell off capital assets to pay for current spending. Far better to use such receipts to either pay for more capital spending, to pay off old debt, or if really necessary, on current spending that smooths the path of a reform in the economy. For if you flog something off and simply, say, raise teacher’s pay, then what do you flog off next year to pay those teachers?

The good news?

Other assets which could be sold include the public spectrum
airwaves, which are occupied by the government but could be sold to
telecom and mobile phone companies. A third of the available spectrum
is used for defence, maritime, aeronautical, scientific and emergency
services. In December last year a report by Professor Martin Cave
suggested that vast swathes of unwanted or unused spectrum could be
released and traded.

The government believes this could produce
billions of pounds in cash in the same way as the auction for 3G
licences did in 2000. At the outset of that sell-off the chancellor
believed the auction might raise £2bn; in the event it brought in
£22.5bn.

Most unlikely that it’ll raise that much but worth having a go. One of the few things truly wonderful in recent years has been that 3G auction. Very Georgist, taxing the hell out of such Ricardian land rents. We should do more of it. Like insist the BBC pay for their spectrum too.