PJV3
Member
Wrt to the pension debts, they are already on the government books, so are the assets, they were taken on last financial year. Amazingly the £55bn liability sits off the balance sheet and the £28bn asset sits on the balance sheets. Government accounting, how does it work!?!
However, the sale of Royal Mail is actually because of an EU competition directive. Labour got the sale on the road by allowing the buyer to abandon the universal service mandate, but then the coalition put that back in and very suddenly all of the European based buyers backed out. The Lib Dems (and Tories) have also blocked the sale of Parcel Force alone (it is a highly profitable global business), they want an all or nothing deal with the buyer committing to the universal service mandate. Unsurprisingly there are few takers.
The EU competition directive was about opening the market to other operators, the UK implemented it before most other countries in stages by reducing the value of the monopoly.
Selling Royal Mail is not(or it wasn't when I worked for them) anything to do with it.
And competition has been a disaster, siphoning off the profitable processing of mail and leaving the expensive final mile to RM.