Sub-postmasters seek delay to Royal Mail sell-off

[TrueBlueTerrier]

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Sub-postmasters have called for Royal Mail privatisation to be delayed, despite an attempt by the head of the Post Office to reassure them that the network of branches has a bright future.

George Thomson, general secretary of the National Federation of SubPostmasters, told its annual conference in Torquay on Monday there were serious concerns over the network’s future and that more work was needed to protect it before Royal Mail was sold.


The Post Office – now separated from Royal Mail, the delivery business – receives millions of pounds a year from Royal Mail to provide services. But the federation fears income will be lost after privatisation, despite a 10-year agreement to safeguard the work.

Preparations for a sell-off will accelerate on Tuesday when Royal Mail unveils improved full-year results. Ministers aim to begin privatisation by next spring, probably through a stock market flotation this autumn.

Paula Vennells, Post Office chief executive, told the conference the organisation was in a strong position to withstand pressures on the high street and maintain its network of more than 11,700 branches.

She said the introduction of longer opening hours in hundreds of branches over the past year meant post office services were available during 17,000 extra hours, equivalent to opening 382 branches.

Ministers want to turn the Post Office into a mutual owned by its staff and customers, but this has been delayed beyond the next election because it is not yet sustainably profitable without subsidy.

[UnhappyGremlin]

And it won't be sustainable without subsidy for years and years.
Not until they've halved the network and closed crown offices.