royal mail privatisation
Royal Mail will never succeed just by relying on the parcels market. Instead we are calling for real change, a far more ambitious growth strategy and proper empowerment of the company's greatest asset - its workforce.
So just who did benefit from the sale? The government famously took a different approach to the conventional idea that you might sell to the highest bidder. Instead it followed the advice of financial institutions - which themselves bought into Royal Mail - in naming its price. It sold the shares at 330p and within a day the share price stood at 455p. At the time of course, the government said the valuation would ultimately be proved right. But with the average price since then having been even higher at 486p, the government effectively gave away £1billion in public assets to those who already had money going spare.
The Royal Mail used to be only famous for one robbery, the Great Train Robbery, now perhaps history will recall a second the great Royal Mail sell off swindle. Make no mistake this powerful engine of civilisation, this most cherished national treasure is now under attack from profiteers.
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