Royal Mail sell-off to go ahead

[TrueBlueTerrier]

http://www.google.com/hostednews/ukpres ... 896240436A" onclick="window.open(this.href);return false;

The Government will press ahead with controversial plans to privatise the Royal Mail, risking a political row and an industrial dispute with postal workers.

Business Secretary Vince Cable will publish a Postal Service Bill, stressing that at least 10% of the shares in Royal Mail will go to its employees.

The Government will say it plans the largest employee shares scheme of any privatisation for 25 years in terms of the number of workers who will benefit - second only to the privatisation of British Telecom in 1984.

But the move will be fiercely opposed by the Communication Workers Union, which last year successfully fought plans by the Labour Government to part-privatise the postal service.

The annual TUC conference supported an emergency motion from the CWU last month which warned that hundreds of post offices will close and the universal postal service will end if the business is sold off.

CWU deputy general secretary Dave Ward said the Royal Mail was being "set up to fail".

He attacked the previous Labour government for the "disastrous" way it introduced competition into the postal industry, which he said had allowed competitors to take 60% of the Royal Mail's profitable business.

Mr Ward said the threat of competition and the Royal Mail's £8 billion pensions deficit could be tackled without privatisation.

The universal service, under which letters are delivered anywhere in the UK for the same price, would end if the Royal Mail were broken up, the union has warned.

The CWU will be targeting scorers of key marginal parliamentary seats held by Conservative and Liberal Democrat MPs as part of its campaign.

[feduppostie]

anyone wanna take bets on how long till the 'how much will we get and when will we get it' threads start appearing

[daveallum]

It's all irrelevant anyway about the shares,I worked for British Gas at the time it was privatised and if this share scheme is similar,you will have to hold onto the shares for about three years before you can sell them to avoid paying tax on them.Of course if we are given say £1,000 pounds worth each,they could be worth less than that if/when we sell them.

All of my BG shares were sold off years ago and I'm told by a friend of mine who still works for BG that only approx 10% of shares are owned by small investors,all others owned by Banks etc,etc.

I still can't see who in their right mind would buy RM in it's current state and if they do,there will be more job losses so thay can may a quick profit,thank god I'm only just over two years away from retirement.

[dvbuk55]

CWU deputy general secretary Dave Ward said the Royal Mail was being "set up to fail".

He attacked the previous Labour government for the "disastrous" way it introduced competition into the postal industry, which he said had allowed competitors to take 60% of the Royal Mail's profitable business.

The very party that they supported and still support both in word and deed. If, or more likely when, the privatisation takes place any little deals - like full time release and maybe even collecting the subs could well go by the wayside "and what will poor Robin do then" - perhaps the CWU will take stock and try to recoup the membership. You have to ask the wisdom of the latest deal, as I posted months ago, the recession was in full swing, there was an extreme likelyhood that the Tories would be in power and a sell off was more than likely given the debts to be repaid - what price a three year deal with a Government owned company that is due to be sold off - they didn't seriously think that would save the sell off surely.

[Gazabarnes]

It's all irrelevant anyway about the shares,I worked for British Gas at the time it was privatised and if this share scheme is similar,you will have to hold onto the shares for about three years before you can sell them to avoid paying tax on them.Of course if we are given say £1,000 pounds worth each,they could be worth less than that if/when we sell them.

All of my BG shares were sold off years ago and I'm told by a friend of mine who still works for BG that only approx 10% of shares are owned by small investors,all others owned by Banks etc,etc.

I still can't see who in their right mind would buy RM in it's current state and if they do,there will be more job losses so thay can may a quick profit,thank god I'm only just over two years away from retirement.

even if they give shares to postmen postal workers are still in deficit in relation to the new shambolic pension that is now running they are giving nothing put the rods up hit the streets

[bunkerland]

CWU deputy general secretary Dave Ward said the Royal Mail was being "set up to fail".

He attacked the previous Labour government for the "disastrous" way it introduced competition into the postal industry, which he said had allowed competitors to take 60% of the Royal Mail's profitable business.

Has Dave Ward just realised all this now,or did he just think he'd keep it to himself while the Labour party was still in power! I think we can cancel Sherlock Holmes and Columbo now,Dave's solved the crime all by himself,genius!