Labour: stamp prices will be kept in check after sell-off

[TrueBlueTerrier]

Labour: stamp prices will be kept in check after Royal Mail sell-off

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Chuka Umunna says party's priority in a privatised Royal Mail would be to safeguard services for consumers and businesses

The Labour party has pledged to keep tight controls on a privatised Royal Mail, including restrictions on stamp prices, if it wins the next general election.

Chuka Umunna, the shadow business secretary, said Labour would impose "an appropriate degree" of price controls over stamps, and also extend the universal service obligation beyond 2015.

Ensuring that Royal Mail services continue to be provided through the Post Office when their existing agreement expires in 2022 is another priority for a future Labour administration.

However, Umunna ruled out a "blank cheque" pledge to renationalise the service, whose staff are being balloted on strike action next month.

"Our immediate priority on entering office, if we are successful in winning back the support of the British people to form a government, would be to safeguard the services consumers and businesses get from a privatised Royal Mail," said Umunna, writing for the Huffington Post.

Days after Ed Miliband pledged to freeze energy bills for 18 months if he won power, Umunna said Labour has stamp prices in their sights, too.

"We will ensure there is an appropriate degree of price control over a privatised Royal Mail, given the 30% stamp-price hikes we have seen over the last two years," he said.

"We do not wish to see households and businesses, already dealing with the biggest cost of living crisis in a generation, being squeezed even further."

Currently, second-class stamp prices are set by communications regulator Ofco, which gives Royal Mail commercial freedom to set first-class stamp prices.

Royal Mail is on track to be privatised in mid-October, probably before staff can hold industrial action. Up to 70% of the organisation is being sold to City institutions and the public, who have until 8 October to file an application to buy at least £750 of Royal Mail stock. Staff are receiving £2,000 of free shares each.

[Phantom]

As an MP you have NO say over a privatised company - go and f**k right off!

[barbario]

As an MP you have NO say over a privatised company - go and f**k right off!

[houseoflords]

Whats that smell???????????????/ Bullshit!