Privatisation of the Royal Mail

I agree with this…

Fierce Writing

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As I’m sure you are all aware by now, the Royal Mail was privatised on Friday.

It was sold for £3.3 billion. Within a day the share price had risen by 38%, meaning that the company was seriously undervalued and some people made a quick profit.

Billy Hayes, General Secretary of the Communications Workers Union, said, ‘If you sold your house and the buyer sold it on the next day for 38% profit, you’d ask “what was the estate agent doing?”’

Actually it is even worse than this. If you remember, the government took on the company’s pension liability two years ago. That was at a cost to the exchequer of over £10 billion.

So in this case the government has spent three times the value of the property, in order to sell it at a significant loss, in order for the new buyer to then sell it…

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About Katherine

I like poetry and history.I love literature and music.I love Leonard Cohen
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