Ken Clarke today gave the clearest indication yet that a Conservative Government would privatise the whole of Royal Mail in a move to tackle Britain's postal services.
In a radio interview this morning, the shadow Business Secretary said that Royal Mail was becoming "a total disaster" and that a Conservative government would privatise the entire group.
He said: "We propose to bring in private capital, assuming it is not in too disastrous a state by next May.”
Since the United States under Democrat rule seem to want to mimic everything European I wonder how long it will be before Nancy Pelosi and Barry O start considering the same thing here in America?
Yes, there are numerous parallels to the British system and the American system, along with the same inherent problems. It is the usual list, unions, pensions, and a system that operates poorly.
The Royal Mail pension scheme has a deficit of £3.4 billion and a revaluation now under way is expected to show a deficit of up to £10 billion. Such a shortfall would almost triple the sum that Royal Mail would have to contribute to the fund and plunge the postal service deeper into the red. Postal volumes are declining by 10 per cent annually.
At least the British press at least refer to the pension plan as a scheme, something that most state and federal agencies here in America refuse to acknowledge even though it one of the biggest drains of taxpayer dollars on the government.
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