The MP for Neath says, ‘the Government’s intentions contradict the wishes of the British public. I have been contacted by a great number of my constituents who are deeply concerned about the Government’s intention to privatise the Royal Mail.’
The Government has given formal notice to the stock exchange that it plans to privatise the Royal Mail within a matter of weeks. Employees will be given 10% of the shares, with the rest being offered to institutional investors and members of the public.
Mr Hain continues, ‘I am highly opposed to the Government’s intention to sell off our 497-year-old postal service. In this, I support more than 96% of postal workers who have voted against the privatisation of Royal Mail and who now fear for their pensions, their salaries and their working conditions.’ Royal Mail now expects Communication Worker’s Union members to vote for industrial action, with the first date available for a strike being 10 October.
According to Mr Hain, ‘As its annual profits show, the Royal Mail is flourishing in public ownership and therefore privatisation is unnecessary. I share concerns that privatisation will result in higher prices and the end to the six day, one price goes anywhere service. The universal postal service provided by the Royal Mail is a lifeline to constituents such as mine living in remote and rural communities. Private ownership threatens to downgrade provisions such as First Class post in order to run a cheaper service for stakeholders.’
Concluding, Mr Hain pledged his continuing support to postal workers as they fight to safeguard this ‘cherished, Great British public service.’