POL to remain 'public'

[billyhayes]

Taken from the coalition agreement released today:

"We will seek to ensure an injection of private capital into Royal Mail, including opportunities for employee ownership. We will retain Post Office Ltd in public ownership."

"We will ensure that Post Offices are allowed to offer a wide range of services in order to sustain the network, and we will look at the case for developing new sources of revenue, such as the creation of a Post Office Bank."

The full coalition agreement can be seen here:

http://www.direct.gov.uk/prod_consum_dg ... 187876.pdf" onclick="window.open(this.href);return false;

Page 10 of the agreement refers to RM and POL.


Over to you, people...

[MinisterofCucumber]

The Government want to use POL as a cash cow. We will be slaving to generate revenue for the Government whilst the rest of RM Group get a share of their profits. However, once they sell their shares, they will be slaving for the people they sold their shares to.

[The BFO]

But who is going to take care of the pension deficit?

[subbie]

It all depends on what is meant by "retained in public ownership". 51% ownership by the public still gives the Gov the controlling stake.

One thing is for sure you cannot just isolate POL and leave it as it is, the business model is broken, it is a dead company walking left in the hands of those who currently run it.

Subbie