RAIL union RMT yesterday exposed Con-Dem government plans to flog Britain’s stake in the highly-profitable Eurostar to French state-owned rail operator SNCF.

Union leaders learned of the sell-off plan at the weekend during a meeting of Eurostar’s works council, which brings together union reps and company bosses, including those from SNCF. 

They heard Tory ministers were plotting to privatise Britain’s 40 per cent share in the high-speed railway.

But SNCF, which has a 55 per cent stake, has the power as majority shareholder to veto the sale of Britain’s stake to privateers. 

The Star understands that the French company is ready to snap Britain’s shares at a knock-down price instead. 

RMT said the government’s plan smacked of “stupidity and pure fiscal incompetence.”

Acting general secretary Mick Cash said: “It is as clear as day that this right-wing government is quite happy to have state ownership of Britain’s railways as long as it isn’t by the British state and as long as the financial benefits aren’t invested in our rail services.

“The policy on rail in Britain is a poisonous combination of stupidity, right-wing ideology and sheer fiscal incompetence. The Eurostar sell-off must be halted now.”

Ministers are also rushing through reprivatisation of East Coast Mainline services, which have raised £660 million for the taxpayer since being rescued from incompetent private operators. 

SNCF already has major stake-holdings in British rail operations including Thameslink and the Docklands Light Railway.