Royal Mail up for grabs
Even though the Royal Mail has been part of the UK economy for decades it now appears as though the Labour government have decided on a part privatisation of the business. Lord Mandelson today stepped forward in the House of Lords to suggest that the time had come for a major revamp of the UK Royal Mail business. Interestingly the government has already reported interest from Dutch outfit TNT in taking a stake in the business which has infuriated unions who suggest that over 50,000 jobs are now at risk.
The last few years have seen major changes in the way the Royal Mail has been run and many had seen today's announcement coming sometime ago. There have already been substantial job cuts over the last few years as the business has effectively been streamlined and refocused for the ultimate goal which appears to be privatisation. The Labour Party is now seriously risking a backlash from Labour MPs and unions alike who have always been steadfastly against a move towards privatisation.
Many people are now blaming changes to the EU regulations regarding mail delivery which sees the Royal Mail having to deliver post for competitors at rock bottom rates.
Share this..
Related stories
Brits: A nation of "wilfers"
Brits waste two days a month aimlessly surfing the internet, a new report claims.Amusingly, experts have labelled this new trend wilfing - short for the phrase 'what was I looking for?'According to figures from price comparison website moneysupermarket.com, more than 20 million people across the UK are now wilf-ers, addicted to searching the internet at every possible opportunity.The report claims...
Read MoreRBS investment banking division saves the group
The headlines this week will focus upon an expected £7 billion loss for 2009 at Royal Bank of Scotland and many will comment upon the proposed £1.3 billion bonus pool. However, under the surface we will find that the "controversial" investment banking division is still delivering profits in the billions of pounds and is effectively carrying the group in the short to medium term. The vast majorit...
Read MoreUK house prices increase in January
The Nationwide report on the UK property sector has highlighted a growing trend which has seen UK house prices increase in value over the last year. A 1.2% increase in the value of property in January, compared to December 2009, brings the total annual increase to 8.6% between January 2009 and January 2010. But what does the future hold for the UK property market? In a move which will surprise...
Read MoreRiots add to woes in Greece
The Greek authorities are coming under more pressure as the announcement of wage cuts in the public sector sparks a number of riots across the country. This is the latest stage in what is certain to be short-term pain for medium to long term gain but this is no good for those caught up in the Greek budget deficit issue. Despite coming out fighting last week and complaining about the speed at wh...
Read MoreUK government calls for £15 billion in public sector savings
UK government is today looking at the possibility of a massive £15 billion of savings from the public sector. Remarkably, after years of investment into the UK public sector the government now believes that £15 billion of efficiency savings can be made over the next three or four years. This begs the question, if efficiency savings are so easy to come by why has it taken a recession for the UK g...
Read More