Private Eye on the Failure of the Government’s Privatisation of the Royal Mail

Beastrabban\'s Weblog

In its edition for last night fortnight, 12th -25th June 2015, Private Eye ran this piece about Cameron’s latest privatisation of the Royal Mail. It pointed out that the rationale for the sale of its last remaining shares in Britain’s oldest state enterprise actually contradicts the previous announcements about how transferring it all to private ownership would somehow improve service. The article states very plainly that this shows what a fraud and shambles the sell-off of the Royal Mail really is. Here it is.

Royally Screwed

George Osborne’s decision to sell the taxpayer’s remaining 30 percent share in Royal Mail defies the whole purpose of the privatisation and confirms what a rip-off the original sale was.

When the leader of the government body that ran the original privatisation in October 2013, Shareholder Executive boss Mark Russell, was questioned by a parliamentary committee a few weeks later, he explained that “one…

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