by Tim Lezard The CWU has accused the government of failing to learn lessons from the botched sale of Royal Mail, saying it is making the same mistake with the review of the privatisation led by Lord Myners. The former Labour minister has been tasked b …

Tim Lezard Europe, UK, CWU, UK unions,

Royal Mailby Tim Lezard

The CWU has accused the government of failing to learn lessons from the botched sale of Royal Mail, saying it is making the same mistake with the review of the privatisation led by Lord Myners.

The former Labour minister has been tasked by the Business Secretary Vince Cable with reviewing whether the right steps were taken in the initial public offering (IPO) of Royal Mail and whether it could have been sold off in a different way.

The review is due to be completed by the end of the year and will inform future privatisations.

CWU general secretary Billy Hayes said: “Nearly a year after the Coalition Government’s Royal Mail giveaway to their city friends Vince Cable is trying to find out how Royal Mail could have been privatised better. Lord Myners’ review completely misses the point – the main lesson learnt by everyone is that governments should not privatise well regarded, profitable public services.

“The government failed to get a good deal for the taxpayer in the sell-off of Royal Mail and the whole episode has shown that privatisation is not in the best interests of the public. We value our public utilities in this country so it’s ridiculous for Vince Cable to task Lord Myners with this review.”


This work is licensed under a Creative Commons Attribution-NonCommercial License.
Author avatar

Tim Lezard

Campaigning journalist, editor of @Union_NewsUK, NUJ exec member; lover of cricket, football, cycling, theatre and dodgy punk bands

Read All Articles