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PRESS RELEASE: Selling off Royal Mail is hugely counterproductive for the stability of the economy

04.06.2015 FOR IMMEDIATE RELEASE

For further information and media requests:

Contact: Ellie O’Hagan E: ellie.ohagan@classonline.org.uk T: 0207 611 2571

Commenting on the Chancellor’s decision to sell the remaining shares of Royal Mail, a spokesperson from Class said:

“The Chancellor’s decision to sell off the remaining 30% of Royal Mail to private investors is short sighted and does not heed any of the lessons of Royal Mail’s controversial privatisation in 2013.

“The decision to sell off a profitable public asset for a one-off financial return is counterproductive and underlines the fact that the Chancellor does not have a long term plan for the economy.

“Class research shows privatisation of public services generally leads to worse outcomes, because it creates a climate of short-term decision making against the public interest. Countries and cities around the world have started to bring public assets back into public ownership to ensure better quality. The UK is relatively isolated in its ideological pursuit of excessive privatisation.”

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Notes to Editors:

1. The Centre for Labour and Social Studies (Class) is a new think tank established in 2012 to act as a centre for left debate and discussion and has the growing support of a number of trade Unions  including ASLEF, BFAWU, CWU, GFTU, GMB, FEU, Musicians' Union, NUM, NUT, PCS, PFA, TSSA, UCATT, UCU and Unite the Union. Originating in the labour movement, Class is working with a broad coalition of supporters, academics and experts to develop and advance alternative policies for today. http://classonline.org.uk/about/panel

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For further information, articles, interviews or media requests please contact Ellie O’Hagan on ellie.ohagan@classonline.org.uk or 0207 611 2571.

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