Monday, November 01, 2010

Answers - it is in the post

A few days ago, I posed a question to John Hemming on whether he supported the postal services bill, privatising Royal Mail.

And as if by magic, the answer came in the vote on the second reading.

He does.

Going further than the Liberal Democrat manifesto - yet another move away from their pre-election commitments.

He's backing the privatisation of the profit and for keeping the liabilities in the public sector, as the government retains the £10.4 billion pension black hole. For all the promised protections, this opens the door to the abandonment of the Universal Service Guarantee and it will be interesting to see if the Post Office retains their preferred supplier status once the seven years guarantee expires. For all that Liberal Democrat posturing over the closure of post offices, this may prove to be a betrayal of all those promises made.

1 comment:

john said...

http://johnhemming.blogspot.com/2010/10/gilt-yields-over-century.html

I did post this on my weblog before the vote anyway.