THE GREAT South West sale of the century could be on the cards with local authorities urged to plunder their assets to help balance the nation's books.

Money-spinners like the Tamar Bridge, Newquay Airport and Torre Abbey are among iconic landmarks which Westminster says could be exchanged for cash to help raise £16 billion.

And last night, ministers confirmed the Government was considering selling off the Met Office as part of the effort to cut the budget deficit.

Officials are looking at "the potential for alternative business models" for the state-owned weather forecaster, based in Exeter.

The WMN revealed in September how the Met Office could be sold off to a commercial firm, even though unions insisted that privatisation was "not on the agenda".

The announcement of the planned sell-off of assets from Prime Minister Gordon Brown yesterday was met with derision by Westcountry local authorities, which said they were not prepared to raid their cupboards.

While not able to directly force local authorities to sell their assets, fears have been voiced that the Government could slash the annual grant awarded to each council.

This sinister approach would leave councils with little option but to raise cash through sales of land or buildings.

Falmouth and Camborne Liberal Democrat MP Julia Goldsworthy condemned such a tactic as "cynical".

She said: "People are right to be concerned. The Government has no power to commandeer local authority assets.

"But they might reduce the annual local government grant to such an extent that local authorities have no alternative but to sell their assets. This would be a very cynical way of squeezing local government finances even further."

Treasury Chief Secretary Liam Byrne yesterday insisted that ministers were not conducting a "fire sale".

He said a detailed portfolio of proposed assets for sale would be brought forward in the coming months.

And he confirmed asset sales by central and local government would be made "where and when market conditions are right" to raise the £16 billion.

In addition to the £3 billion hoped for to help pay off the Government's debt, he said it aimed to sell a further £2 billion worth of assets which would be available for re-investment by departments.

The expected £11 billion sale of local authority assets would also be retained by councils.

Mr Byrne that it would enable investment in front-line services to continue as the economy recovered from recession.

Some of the jewels in the Westcountry crown which could conceivably be sold are definitely not on the market, according to their owners. The Tamar Bridge and Torpoint Ferry are jointly owned by Plymouth City Council and Cornwall Council. A spokesman issued a firm "no" to the question of whether they would be sold.

In Torbay, historic Torre Abbey and the Riviera Conference Centre are owned by the local unitary authority and it is understood there are no plans to sell either.

Cornwall Council's biggest earner is Newquay Airport. The council took over running the airport last December. A spokesman said: "There are no immediate plans to sell the airport but we will not rule this out in the long-term," he said.

Plymouth City Council is already considering selling its 100 per cent shareholding in CityBus and has invited bids as a way of finding out the bus company's true value.

The authority announced last month that it had received "a significant number of bids well in excess of £10 million.

The Government is also thought to be keen to sell surplus real estate, which is part of the £220 billion owned by its departments and agencies.

This could pave the way for vast tracts of unwanted Ministry of Defence land in the Westcountry to be auctioned off, as well as numerous buildings.

South West Devon Conservative MP Gary Streeter said local authorities should not hold big public assets, but now was not the right time to sell. "In principle, I am in favour of local authorities owning almost nothing. They should not own bus companies or car parks – that should always be in the private sector.

"But whatever the argument, is now the right time to sell to get the right price?" Mr Streeter also questioned how this would reduce the Government's deficit. "Are they saying to local authorities they will have to give the money up to the Government?"

The confusion over the surprise announcement from Mr Brown was echoed by the Local Government Association, which represents local councils.

A spokesman told the WMN that it had not been consulted at all about the Prime Minister's announcement – something which was a "disappointment."

He said that to the LGA's knowledge, there was no way of forcing a local authority to sell an asset and hand up the proceeds to Westminster.

The Prime Minister yesterday unveiled a £16 billion programme of asset sales.

About £3 billion of assets are planned to be sold off over the next two years – including the Tote, the Dartford crossing, the Channel Tunnel rail link and the student loan book.