The privatisation of Royal Mail could leave many customers having to treck miles to their local delivery office, as buildings in prime locations are sold to give investors a windfall.
The privatisation of Royal Mail could leave many customers having to treck miles to collect their mail, as buildings in prime locations are sold to give investors a windfall, according to warnings from Labour.
The prospectus for Royal Mail provatisation published this week details 2,000 sites the Royal Mail operates including delivery offices and mail centres.
The prospectus labels three sites within London at Mount Pleasant, Nine Elms and Paddington as “surplas”. However the document does not specify which of Royal Mail’s other sites could be sold off during privatisation, prompting fears that other sites may be sold to deliver a windfall to investors, with taxpayers out of pocket due to a low sale price.
Labour has warned that the plans could see pick up points for parcels and mail closed down and moved to out of town locations where land values are cheaper.
Shadow business secretary Chuka Umunna said there was “nothing to stop the privatised company making a quick buck by flogging off these assets for development”.
“Ministers need to come clean on which sites are due to be sold and what valuation has taken place,” he added.
Left Foot Forward recently looked at five reasons why the sale of Royal Mail is bad policy
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