CWU: privatisation has failed one of Britain’s most important institutions
Following reports that foreign private equity investor EP Corporate Group could be buying into a controlling stake of Royal Mall Group’s corporate holding company, International Distribution Services (IDS), CWU General Secretary Dave Ward said: “Handing over the ownership of Royal Mail to a foreign private equity investor cannot be right.
“Royal Mail’s vulnerability to this type of bid can’t demonstrate more clearly how privatisation has failed one of Britain’s most important institutions.
“Royal Mail needs a new ownership and governance model with its focus on delivering a postal service for workers and customers, not one simply about shareholder payouts and running down conditions.”
In an emergency motion at the CWU annual conference on Thursday 25 April delegates unanimously resolved that in the event of any takeover, it would completely oppose all attempts to:
Break up the company;
Introduce franchising to Royal Mail;
Introduce outsourcing into the company;
Introduce a three-or-four day USO or other severe USO cuts;
Raid the pension surplus.
The emergency motion also endorsed the call for a new ownership and governance model for Royal Mail.