Royal Mail stake to be sold off, George Osborne announces

[POSTMAN]

http://www.bbc.co.uk/news/uk-politics-33004664" onclick="window.open(this.href);return false;

The government's remaining 30% stake in the Royal Mail is to be sold off to help pay down the deficit, George Osborne has said.

He said the shares would be sold when ministers could be sure they would get value for money.

The chancellor also announced £4.5bn in efficiency savings in the current financial year.

Labour accused Mr Osborne of "ripping up" his long term economic plan by springing the announcement on MPs.

The government is committed to clearing the deficit by 2018/19 without increasing income tax or VAT, something Mr Osborne said would not be "easy".

Former Labour leader Ed Miliband is speaking now in the Commons debate on the Queen's Speech.

[POSTMAN]

http://www.stockmarketwire.com/article/ ... stake.html" onclick="window.open(this.href);return false;

StockMarketWire.com - Chancellor George Osborne has announced that the Government will sell its remaining shares in the Royal Mail, with sales to start this year.

The stake currently has a market value of c.£1.5bn. The Department for Business will sell its remaining holding of shares, completing the privatisation begun with an initial public offering of shares in October 2013.

The Government has appointed Rothschild to advise BIS on the transaction. The Government holds a 30% stake in the company, with the remaining 70% held by a combination of employees (10%) and private investors. Any transaction will be designed to deliver best value for money to the taxpayer, with further detail on the form of the sale to be announced in due course.

The Chancellor was addressing MPs as part of the Queen's Speech debate on the economy.

[Ahebban]

It was always going to be a case of 'when' and not 'if' ....

https://uk.news.yahoo.com/government-se ... ml#bRTOgyU" onclick="window.open(this.href);return false;

[paulthepostie]

I do hope I'm wrong but i do think that our terms and conditions in the following years are well and truly stuffed now. The last few years have been tough enough. Let's live in hope!.

[toomuchcoke]

The government's remaining 30% stake in the Royal Mail is to be sold off to help pay down the deficit, George Osborne has said.

The government is committed to clearing the deficit by 2018/19 without increasing income tax or VAT, something Mr Osborne said would not be "easy".

Given that the shares in the Royal Mail currently yield more than 15-year government debt, the immediate effect of such a sale will be to put the deficit up!

[Chelseablue]

And who voted the self serving Tories in?

[pants123]

I do hope I'm wrong but i do think that our terms and conditions in the following years are well and truly stuffed now. The last few years have been tough enough. Let's live in hope!.

your right, the rich will screw the working class over.. big time.. the total d i c k h e a d s..

[borders]

And who voted the self serving Tories in?

this is what you get when over 45 % of the population cant be bothered to vote or even register to vote. you cant knock the Tory voter though because they know how important voting is to them ... ching ching !!

[postypie]

Is it the beginning of the end as we know life at Royal Mail now?
Tories strike again.....question is will our union Strike back?
I do not know many people who want to see us fully privatised, but this means nothing to Osbourne I would guess.

[Lounge Lizard]

And who voted the self serving Tories in?

24% of the electorate.

[dave72]

Value of £1.5b won't even scratch the surface of the national debt of over £1trillion

[paulthepostie]

Value of £1.5b won't even scratch the surface of the national debt of over £1trillion

The crazy thing is the tories have near enough doubled the national debt it's currently at 1.5 trillion.
http://www.debtbombshell.com/" onclick="window.open(this.href);return false;

[Wild Rover]

[Spedley]

Doh! I knew RM shares were a steal at £3.30 and figured our allocated shares and SAYE would be worth a decent amount when they 'matured'.

Or as it turns out if RM dispose of their 30% stake flooding the market just before hand, our shares will not be worth selling for a considerable amount of time.

[RedBagMan]

So .. the Government plan to sell off 30% of the shares - and the price plummets by 25p ...

So - next October - when we get the chance to sell off our 10% - will the price plummet by 8p ???

They''ll probably be worth about 330p