Royal Mail sell-off unveiled
Business Secretary Vince Cable is announcing the flotation of Royal Mail which will mean people will be able to buy shares in the company. Members of the Communication Workers Union overwhelmingly oppose the scheme.
Business Secretary Vince Cable is announcing the flotation of Royal Mail which will mean people will be able to buy shares in the company. Members of the Communication Workers Union overwhelmingly oppose the scheme.
Royal Mail provides a vital service for businesses across the UK. This service must be maintained regardless of the company’s future ownership structure.
Many services currently delivered by the public sector can be delivered effectively and efficiently by private companies. In the case of Royal Mail, the key is to ensure that privatisation delivers value-for-money to the taxpayer, and maintains the universal service obligation that sustains both businesses and individuals alike.
Royal Mail staff have accused the government of trying to "buy them off" over proposals to hand them free shares in the privatisation plan.
A plan to privatise the Royal Mail is the latest twist in its turbulent but distinguished history, which dates back to 1512.
Today the Business Secretary, Vince Cable will make the announcement that previous governments have not dared