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Privatisation of the R oyal M ail: Third Time Lucky?
Author(s) -
Parker David
Publication year - 2014
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/ecaf.12046
Subject(s) - parliament , opposition (politics) , politics , prime minister , government (linguistics) , public administration , economics , political science , business , law , philosophy , linguistics
The C onservatives privatised most of the UK 's state‐owned industries during the 1980s and 1990s, but the R oyal M ail remained under public ownership. It was privatised through a public flotation in early O ctober 2013 when around 70 per cent of the company's shares were sold by the government. This paper looks at the reasons why the enterprise was not sold earlier. It especially focuses on the failed attempt to privatise it in 1993/4, although other occasions when privatisation was contemplated are mentioned. The discussion draws on government papers that are closed to the public under the 30‐year rule but to which the author had access as the UK government's O fficial H istorian of P rivatisation. The study demonstrates that in the past a combination of lukewarm support for privatisation at the prime ministerial level, concerns about the political consequences (including a possible revolt in Parliament), and trade union opposition proved decisive in preventing privatisation of the R oyal M ail.