MANDELSON OPENS DOOR FOR FULL PRIVATISATION.

MANDELSON OPENS DOOR FOR FULL PRIVATISATION.

SNP WARNING OVER ROYAL MAIL PROPOSALS
SNP Postal Affairs spokesperson Mike Weir MP has warned that private stakeholder plans for Royal Mail “open the door” for full privatisation, after it emerged legislation being introduced by Lord Mandelson could lead to a sell-off of almost 50%.
Lord Mandelson’s bill, due to go before the Lords, goes far further than previously understood and could allow the privatisation of up to 49.9% of Royal Mail without the need for further legislation.
Mr Weir said:
“Lord Mandelson’s bill plainly opens the door for full privatisation, and he must be stopped in his tracks.
“The scope of the legislation goes far beyond allowing a 30% private stake, and in reality would allow almost 50% of Royal Mail to be sold-off without further legislation.
“The Conservatives will be rubbing their hands while Labour backbenchers and the unions will be absolutely furious.
“Lord Mandelson’s plans would spell the beginning of the end for Royal Mail, and open the door to job losses, service cuts and a deterioration in the working conditions of postal workers.
“A private partner will only be concerned with profit, and Royal Mail must not loose the social focus which is essential for rural areas.”