The UK coalition government has announced it is to push ahead with privatisation and present the Postal Services Bill before Parliament. Up to 90% of the Royal Mail could be owned by private buyers but Post Offices would be protected.
In a statement this morning, a government spokesperson said of the Bill:
“The requirements of the universal postal service – collection and delivery of post six days a week at uniform, affordable prices are written into the Bill. The Government has no intention of downgrading them.
“Royal Mail will be able to benefit from an injection of private capital – ending the dependence on funding from the taxpayer and bringing new commercial disciplines into the business. Alongside private sector investment, at least 10% of the shares in Royal Mail will go to its employees in the future. This will be the largest employee share scheme of any privatisation, larger than British Telecom, British Gas or British Airways.
Continues at: Royal Mail Sell Off To Go Ahead.
Related articles
- Royal Mail privatisation ‘closer’ (mirror.co.uk)
- Government to press ahead with Royal Mail sell-off (independent.co.uk)
- Royal Mail in line for ‘Tell Sid’ privatisation (independent.co.uk)
- Government to press ahead with Royal Mail privatisation (independent.co.uk)
- Bill to reveal Royal Mail privatisation details (newstatesman.com)
- Job fears over Royal Mail sell-off (mirror.co.uk)
- Royal Mail could be sold off next year, with post office network mutualised (telegraph.co.uk)
- Fears over jobs as Government unveils Royal Mail plans (independent.co.uk)
