Business secretary Vince Cable has come out to defend the privatisation of Royal Mail in the face of criticism from the National Audit Office.
The past few months have seen the flotation of Royal Mail, the Lloyds share sale and the first national employee ownership day. The theme linking these three developments is one that has been around since the 1980s: the belief that everyone should own property and shares in companies.
The government has given formal notice to the London Stock Exchange that it is preparing for a floatation of the privatised business “in the coming weeks”.
The results have been terrible. Soaring prices, corruption, fraud, enormous expense to the public purse. But Westminster is determined to keep on privatising. New campaign, ‘We Own It’, says enough is enough.
The UK government packaged its privatisation of probation services in England and Wales yesterday as ‘the most significant reforms to…