Mandy Backs Down on Royal Mail Sale
Monday, July 6, 2009 10:26
Royal Mail will not be part privatised until after a general election as a good price cannot be found, Lord Mandelson told the Lords. In an embarrassing U-turn, the business secretary said, we have throughly tested the market to see who is interested in partnership,but economic circumstances, i need hardly point out, are extremely difficult.
Earlier this week, it was reported the government was planning a U-turn on Royal Mail because there was not enough space in the parliamentary calendar. Shadow business secretary Ken Clarke said that the government is in a state of paralysed indecision on every difficult issue. Lord Mandelson said recently the government was committed to the policy of part privatisation and that the Royal Mail was in a crisis. He,s now leaving Royal Mail to slide into more rapid decline.
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