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Royal Mail to be sold or privatised

2010-09-10 51 Dailymotion

<p><br /> The Government is to press ahead with controversial privatisation plans for the Royal Mail after a report it commissioned warned that "urgent action" was needed to protect the service.<br /> </p><p><br /> An updated version of a study originally ordered by the Labour government called for private investment, which will revive huge controversy over ownership of the group.<br /> </p><p><br /> Richard Hooper, a former deputy chairman of Ofcom, the communications regulator, said the Royal Mail's financial position had worsened since his earlier report and the group's £10 billion pension deficit was more unsustainable.<br /> </p><p><br /> He called for an injection of private capital into the business, arguing that it would fund increased modernisation of the postal service.<br /> </p>

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