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Royal Mail privatisation bill unveiled by Vince Cable
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=10981		 Page 1 of 1
Author:  paulzolo [ Wed Oct 13, 2010 1:30 pm ]
Post subject:  Royal Mail privatisation bill unveiled by Vince Cable
Rent-a-Tory Vince Cable is doing something staggeringly idiotic - trying to sell us something we already own in the middle of a recession, and no doubt during a time of those much looked forward to swingeing cuts.

Prepare to buy Royal Mail.

http://www.bbc.co.uk/news/business-11526179

Quote:
Mr Cable made clear that the government would not oppose a foreign company buying up the Royal Mail.
Author:  pcernie [ Wed Oct 13, 2010 2:11 pm ]
Post subject:  Re: Royal Mail privatisation bill unveiled by Vince Cable
Quote:
It will remove the risk to taxpayers of an expensive bailout


Erm, how much more of an expensive bailout? And if it isn't much more, let's do it...
Author:  Amnesia10 [ Thu Oct 14, 2010 5:08 pm ]
Post subject:  Re: Royal Mail privatisation bill unveiled by Vince Cable
pcernie wrote:
Quote:
It will remove the risk to taxpayers of an expensive bailout


Erm, how much more of an expensive bailout? And if it isn't much more, let's do it...

I seriously doubt it will work out well. The prime reason to privatise it is to raise money for inheritance tax cuts. Nothing more than that. It may not be any more profitable, they will sack tens of thousands of people, all of whom will be on the dole for months.
Author:  bobbdobbs [ Fri Oct 15, 2010 10:54 am ]
Post subject:  Re: Royal Mail privatisation bill unveiled by Vince Cable
Amnesia10 wrote:
I seriously doubt it will work out well. The prime reason to privatise it is to raise money for inheritance tax cuts. Nothing more than that.
or something quite inconsequential like a massive huge deficit.

Though I cant wait for Labour to come out and campaign against something they wanted to do. The smell of hipocrasy shall be heavy in the air.
Author:  Amnesia10 [ Fri Oct 15, 2010 11:41 am ]
Post subject:  Re: Royal Mail privatisation bill unveiled by Vince Cable
bobbdobbs wrote:
Amnesia10 wrote:
I seriously doubt it will work out well. The prime reason to privatise it is to raise money for inheritance tax cuts. Nothing more than that.
or something quite inconsequential like a massive huge deficit.

Though I cant wait for Labour to come out and campaign against something they wanted to do. The smell of hipocrasy shall be heavy in the air.

Yes but the government will get much less for it in the current economic conditions. It is also not the best run organisation. Plus the liabilities are immense. Even if you strip out the old liabilities with the numbers of staff it will have a huge pension liability almost instantly. Also a one off cash windfall will barely make a dent in the ongoing deficit. It will also lose the large government levy that helps balance the government books and is one reason why the Royal Mail makes a loss.
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