CWU pans Thatcherite share bribe to privatise Royal Mail

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Government attempts to bribe 140,000 Royal Mail workers with free shares ahead of a bid to privatise the service were panned today by the Communication Workers Union (CWU).

Tory Business Minister Michael Fallon set out his plans to sell-off Royal Mail this summer in a speech to the right-wing Policy Exchange today evening.

And he promised every worker a share of around £1,500 in a Thatcherite throwback aimed at undermining resistance to privatisation.

But CWU general secretary Billy Hayes said workers would be expected to pay out up to £2,000 to claim a single share.

He said Mr Fallon did not deny this when challenged by CWU officer David Ward on Sky News recently and warned a sell-off would see jobs and Royal Mail services cut.

"The idea that postal workers are going to sell their soul for a 10 per cent stake in the company is not going to work," he said.

"Postal workers up and down the country know there are no free lunches.

"What they want is real money in their pockets, what they want is decent pay, an increase to their pay and what they also want is secure pensions and secure jobs."