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Post Office Privatisation?


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Be interested in the pros and cons of this one; as it appears to be a rather large CON trick on the British tax-payers who currently own it?  EG: we have a nationalised company priced at £3billion, that is currently making a profit of £400million pa, and is looking forward to an expanse in the parcel delivery market. It also has around £12BILLION in pension debt. Now, surprise surprise, the Government are going to privatise the profits but not the debt, which remains with the taxpayer. So - good deal or not?

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I was involved in one of the first privatisations when all the government run road transport companies were turned into the National Freight Corporation. All the employees were given a sweetener at the time of £200 worth of shares at a knock down price which over about 7 years multiplied ten fold so that was good ,but  because a lot of the employees used their growing shares to finance projects at home ,the shares were sold on specified dealing days & the better off in the management & business people "in the know" snapped up these surplus shares & a lot of people eventually became very wealthy from the privatisation.After 2 or 3 name changes the the NFC was bought , after about 20 years of trading, by DHL, the German Postal Service, which again would have given some people a sizeable profit. I would not be surprised if DHL become the eventual owners of Royal Mail....they have depots every where & the clout to succeed.

 

Does anyone think the  £750 offer of shares to the public would be a good deal ?

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It took 26 years for the price of a first class stamp to rise by 20p. In preparation for this sell off the price increase has been 20p in the last 2 years.

 

It will lead to multiple companies delivering your mail, less post box collections, an increase in post office closures, soaring stamp prices, reduced deliveries (more so in rural areas), and full time staff replaced with part time on zero hours contracts. There is absolutely no justification for it.

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Cant remember the last time I posted anything. Yes I receive but the vast majority is junk and binned. I do most on line what I would previoulsy send. So a high street presence is not going to be needed as much as the more tech savy become the norm. Cannot see how it can continue in its current form for much longer but I agree a golden share (like BP intially) should be retained FTB

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 an increase in post office closures,

The Post Office is seperate from Royal Mail and isn't part of the sale. It doesn't seem too concerned:

 

http://www.postoffice.co.uk/useful-info/post-office-news/post-office-statement-response-government-announcement-royal-mail

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The Royal Mail is still going to need somewhere for people to post parcels, registered and special delivery post etc and they have a contract with the Post Office for this.

 

What property does Royal Mail have that they could sell off Obs? Obviously if it's not being used they may as well get some money for it.

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Of course Labour tried to do this privatisation back in 2009 but their revolting backbenchers saw it off. It's the usual tale though - Brussels says "jump" and the UK government asks "how high?"

 

Norway has refused to implement these directives, or maybe they didn't receive that fax :wink:

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