The coalition Government has put one step forward in selling its shares in the Royal Mail. A Postal Services Bill was included in the Queen’s Speech which will open access to the shares to third parties. Many ministers believe the move will raise the fund needed to reinvest in the postal business.
On the other hand, the Goverment said there was a commitment to keep the Post Office in public ownership.
The Queen said during her speech: “My Goverment will modernise the Royal Mail, in partnership with employees, and will ensure it benefits from private sector capital and disciplines.”
Since being founded in 1516, Royal Mail has always been state-owned
The Communication Workers Union (CWU) warned that it might take industrial action if necessary to fight any move to part-privatise the Royal Mail.
CWU’s Deputy general secretary Dave Ward said: “If we need to take industrial action to defeat privatisation to secure our members’ pensions and jobs, we will not hesitate to do it.”