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.
Business Secretary Vince Cable says there are "various myths" that need rebutting concerning the Royal Mail sell-off.
He told The Commons: "Contrary to what is being claimed, after a sale, Royal Mail will still be the UK's universal service provider. This includes services to urban and rural areas and free services to the blind."
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