A TRAFFIC island which was the UK’s last piece of infrastructure has been sold to the private sector.

The island, which boasts assets like traffic lights and red bumpy pavement, sold for £12,200 to a Malaysian street management specialist.

Chancellor George Osborne said: “Thirty years ago the people of this country were burdened by an airline, energy network, telephone network, and postal service.

“Why, everyone asked, should these things be in the inefficient hands of the British state when they could be brilliantly run by the French or Chinese states?

“I am proud to announce from the SportsDirect House of Numbers, formerly 11 Downing Street, there is now nothing left to weigh us down.”

The island has now been temporarily closed to allow the construction of a Subway, Caffe Nero and La Senza, leading to 15 road deaths in the last 24 hours.