Today will see the Royal Mail sale approved, as the once country owned five hundred and 8 year old service created by Henry VIII comes closer to being under the control of Czech billionaire Daniel Kretinsky. There are still a few regulatory issues and share holder vote before the deal is final.
Assurances that the country’s post will continue after the Royal Mail sale include:
- Maintaining the Universal Service (although Ofcom are already debating how this might change)
- Keeping the Royal Mail brand, head office and tax resident in the UK for at least five years
- Workers to get 10% of any dividends shared amongst them
- No raids on the pension pot
Ultimately the CWU will always campaign for Royal Mail to be returned to public ownership – but the reality is once it became clear the government would support this takeover – our role as a trade union was to do everything possible to protect our members.
Whilst many will fear Royal Mail falling into the hands of a foreign equity investor, the truth is every postal worker knows the status quo is what will kill off postal services in the UK.
The Royal Mail Group Board have been running the company into the ground over a sustained period and in the process have completely alienated their own workforce. It is time for a fresh start and a complete re-set of employee and industrial relations.
– Dave Ward General Secretary, CWU
Today’s announcement marks an important milestone in the approvals process. The IDS Board welcomes the Government’s endorsement and legal backing for the comprehensive package of undertakings and commitments we negotiated. These provide our customers, colleagues, unions, regulators and broader stakeholders with safeguards for the provision of the Universal Service Obligation, the ongoing financial stability of Royal Mail, the maintenance of colleague benefits, and Royal Mail’s broader role in the United Kingdom.
We welcome the Government’s commitment today to secure a stable future for Royal Mail. This will not come from a change in ownership alone but must also be backed by urgent reform of the Universal Service and the continued transformation of this great British business.
– Keith Williams, Non-Executive Chair of IDS
