for sale

[wolfie citizen smith]

10 September 2010 Last updated at 11:26 Share this pageFacebookTwitter ShareEmail Print Royal Mail to be privatised or sold, government says
Staff may be offered shares as part of the government's plan The government is to press ahead with privatising the Royal Mail.

Business Secretary Vince Cable made the commitment after receiving updated recommendations from the businessman Richard Hooper.

His latest report says the universal postal service can only be maintained by an injection of private sector money and expertise.

He also repeated his call for the Royal Mail's pension scheme, which has an £8bn deficit, to be nationalised.

"Royal Mail is facing a combination of potentially lethal challenges - falling mail volumes, low investment, not enough efficiency and a dire pension position," said Mr Cable.

"We will come forward with new legislation in the autumn.

"It will draw heavily on Hooper's analysis and recommendations and the government's wider objectives, including the need for employees to have a real stake in the future of the business."

The plan was immediately denounced by the main trade union at the Royal Mail, the CWU.

Its general secretary, Billy Hayes, said privatisation would lead to higher prices for customers and job losses for staff.

"It's the failed politics of history which brought disruption to Britain's utilities and railways and astronomical prices for consumers," he said.

"Dangerously in this case, we fear the government may also be plotting to seize the pension assets."

[minx]

we are all fed up with this continual threat hanging over us , companies such as royal mail are the back bone of the UK ,our posties are brilliant and as i work in customer services i can say exactly what our customers moan about ,theyll soon change their minds when prices go up.
Royal mail customers need to stop moaning about gates being left open, rubberbands , drivers simply driving, posties who stop t o talk to people or are taking a drink in hot weather and all the really silly things we get on our phonelines. Talking of customer services ,any news re whether we are under threat as we have now had VR letters put out to everyone in the centre ,are they that desperate to get shot of staff ,how about cutting some of our fat cat managers and execs wages and bonuses we have not even had a pay rise yet, but no date fat cats have a safe secure pension and fat wage packet.
Power to our posties and customer service staff

[Night Tonic]

Its not a threat, its happening.

[The prisoner]

MINX You would never make in this company, you got too much common sense.

[Night Tonic]

Hooper report is out and govt confirms it is to sell RM. Check the press.

[DGP1]

Nighty - have you not retired yet (again) maybe you should try to put your side of the argument on instead of just sniping at other peoples comment.
The Government has announced plans to put the sale of RM in the next session of parliment, we already knew the ConDems where going to do this so it's no surprise to anyone who's been on this site but we don't know how much will be sold off or whether anyone would actually buy it.

[Drake]

When is the sale likely to happen then? Not this year?