Local Euro MP Sharon Bowles attacks Government's proposal to sell off £500 million of waterside property

11.10.00am GMT Thu 19th Nov 2009

Sharon at the Grand Union canal

Lib Dem MEP Sharon Bowles has reacted angrily to suggestions that the Government is planning to sell off £500 million of state-owned waterside property in what has been described as a "firesale" of UK assets.

Gordon Brown's £16bn sell off, which is expected to include British Waterways' waterside property portfolio, signals a desperate attempt by the Government to reduce £800bn of national debt.

Profit from the waterside property is vital to fund the maintenance and upkeep of a 2,200 mile network of canals that British Waterways manages throughout the UK. Selling the properties at rock bottom prices would not be in the interests of the taxpayer and would create serious long-term funding and environmental problems.

Sharon Bowles MEP said: "The Government's proposed firesale of waterside properties doesn't make any sense. Without the substantial profit generated by this particular portfolio of property, where will the money used to maintain Britain's canals and rivers come from? It will be left to the tax-payer to foot the bill."

"British canals and waterways are a 200-year-old heritage we must protect. Millions of people enjoy walking, cycling and boating along canals. The idea that we can just let them fall into disrepair and disuse is absurd."

According to British Waterways there are more boats on the UK's canals today than at the height of the Industrial Revolution.

Sharon Bowles said: "I live next to a canal and it is sad to think that the Government might be taking short term decisions that jeopardise the long-term future of this precious national asset, not to mention the income from tourism it generates."