The UK government has revealed that it intends to revitalise plans for a partial privatisation of Royal Mail. The coalition government said it would be seeking to secure private capital investment with opportunities for employee ownership with as much as 49% sold to private investors.
The announcement will fuel opposition from the Communication Workers Union and some Labour MPs who were against the partial privatisation of the state-owned postal operator. A previous attempt by Lord Mandelson to find a strategic partner failed, leaving the new Postal Services Bill, formed on the strength of the Richard Hooper report, in tatters.
Responding to the Lib-Con coalition government’s plans, Billy Hayes, CWU general secretary, said:
“This is old politics wrapped in new language. The British public has consistently rejected the privatisation of Royal Mail.
“The move to regurgitate failed policies will be deeply unpopular.”
See full article at: Royal Mail Part Privatisation To Go Ahead.
