The Royal Mail is not royal, if ever it was.<\/p>\n
It has not been an essential state-supplied service for some time, although I doubt we can survive without it as a universal service.<\/p>\n
And now it is going to be owned by a Czech-controlled entrepreneur. There is not even going to be the semblance of a fully accountable quoted company subject to the due processes of the corporate governance regime that goes with such operations behind it because I do not think they can exist in entities dominated by a single person.<\/p>\n
And, apparently, this is OK with the Labour government because, according to a rash of media reports this morning, clearance has been given to takeover of the Royal Mail parent company by Daniel Kretinsky's EP Group.<\/p>\n
According to the BBC<\/a>, there are some caveats:<\/p>\n The government will retain a so called \"golden share\" that will require it to approve any major changes to Royal Mail's ownership, HQ location and tax residency.<\/p>\n<\/blockquote>\n The result is that another essential service within the UK ceases to have UK control, and the infrastructure of this country is gutted to create a profit opportunity elsewhere as a result.<\/p>\n I have heard all the reassurances that will be given, and I do not trust them. And, for the record, tax residency does not mean paying UK tax.<\/p>\n Why is it that we do not believe in ourselves in this country?<\/p>\n And why don't we value what keeps the country operating?<\/p>\n Is it really true that only profit matters?<\/p>\n And for how long can that pretence be maintained when it is so obviously false?<\/p>\n\n