Payrolling Paymaster

Article Abstract:

HM Paymaster General's office, which operates as a banker for more than 800 billion pounds sterling of annual UK government funds, is to be privatised. The pensions side of the operation will be sold in the current financial year, but the government will still be responsible for funding and regulating these activities. Any potential purchaser will have to have computer operations large enough to handle the very large sums of money with which this office deals.

Management, Administrative agencies, Government agencies

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UK Grid sells storage

Article Abstract:

The National Grid aims to raise 350-400 million pounds sterling from the sale of two pumped storage operations, situated at Ffestiniog and Dinorwig in North Wales. The deal is expected to be completed by the end of 1995. There is still considerable uncertainty about the future of the 3.5 billion pounds sterling flotation of the National Grid, which is also due to take place in 1995.

Electric Power Distribution, United Kingdom, Mergers, acquisitions and divestments, National Grid Company PLC

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