Nadine Dorries Conservative MP, said the PM Cameron and his Chancellor Osborn were “two arrogant posh boys” who don’t know the price of milk and who show no remorse for their policies, no contrition and no passion to want to understand the lives of others – two public school boys who don’t care either.
The earlier Post here on Royal Mail privatisation spelt it out – and the predictions were right; have a look at the Post if you missed it:-
“Royal Mail – another Tory Privatisation Disaster is on the Way” Published Oct 1 2013 by dadman007.
This privatisation was just another major con by the Tory led coalition Government – like all the others the Tory’s have orchestrated! The pretence that this (like the Thatcher Gas sell-off in the 80’s) was about creating a wider shareholding society, was just a sham. It is true that many ‘small’ shareholders got in there on the floatation and were granted an allocation of 750 shares at a knockdown price – and as they always do they immediately took their bribery seven pieces of silver, and immediately sold their few shares (snatched-up by the big boys of course) and without conscience, they pocketed their hundred of pounds quick profit! Your money!
You don’t have to be an economist, you don’t have to be a stockbroker, and you don’t have to be a City trader, to have guessed what was certain to happen with this rushed fire sale of our ‘hundreds of years old’ valuable public asset, hawked cheaply to the financial piranhas – who will take their pound of flesh – their dividend, their profit, strip the Company bare, and then sell it on to some foreigners, who will milk it further and destroy its service & reputation.
As expected the floatation was massively oversubscribed within hours – seven fold! In the market there were five times as many buyers as sellers so as expected the share open market price was, as predictable, substantially higher than the Governments selling price (they opened strongly when the market opened, but then of course fell off slightly, as loads of people took their ill-gotten gains, (Your money!), but recovered and ended up a tidy fifty percent profit price.
One of the more unexpected and disappointing performances post floatation was that of LibDem Vince Cable – a politician who has carried some unique credibility about his views on our economy. He, as Business Secretary, probably had little choice in running the actual sell-off, so he can perhaps be forgiven for his involvement there. However, he is now strongly defending the price that shares were sold at, ignoring the fact that they were blatantly, inexcusably undervalued, and the issue badly managed – so that denial role is inexcusable and severely damages his reputation! We the public have been short changed by at least a billion pounds! Your money!
Again as we all expected the Royal mail staff (Communications Workers Union) have overwhelmingly voted to go on strike – some three quarters of them (despite the Government brining forward the sell-off before they could ballot – in a vain attempt to head them off!). The attempted bribery to staff of free shares had no effect – again as we all expected! We, the public, can now look forward to stoppages galore, and a lack of Christmas cheer in a couple of month’s time.
While Royal Mail may have brought some money into George Osborn’s coffers, in reality it is not all that much (two billion pounds, and certainly won’t make a significant contribution to the Country’s deficit – for a start Chancellor Osborne has pumped in a dozen billion pounds (Your money!) into the Royal Mail Pension Fund to cover a enormous shortfall – as such a black hole would have had the planned floatation totally suspect; also running the sell-off has cost somewhere in the region of twenty million pounds. All the Government pulled in was just over three billion pounds!
The rich friends of the Conservatives have made a killing, and are laughing all the way to the Bank. Your money! You can easily guess who they all are going to vote for at the next General Election!
Our respected Royal Mail has now gone to the wall – there can be no reprieve in the future. Nick Clegg and his fellow LibDems, who allowed this public vandalism to happen, should be ashamed of themselves and their blatant abandonment of their principles for a taste of power. [Clegg of course is keeping onside and his nose clean, simply hoping that PM David Cameron gives him an escape route to a job in his beloved Europe before the next election].
Who are YOU going to vote for?