He joined Royal Mail workers from the Communications Workers Union to campaign against the privatisation of Royal Mail.
In Government and Opposition, Labour has opposed the full privatisation of the Royal Mail, believing that both the Royal Mail and Post Office should at all times be publicly owned, giving the taxpayer an ongoing interest in the maintenance of the universal service obligation and an ongoing interest in the inter-business agreement between the Royal Mail and the Post Office, which is so essential to the Post Office network.
There are also concerns over who will profit from the sell-off. The government has confirmed Goldman Sachs and UBS will handle the upcoming Royal Mail privatisation. However, despite requests to do so, Ministers will not reveal how much these banks will earn in fees from the sale. There have been reports it could be as high as £30m.
Andrew Gwynne MP said:
“Royal Mail workers are some of the most dedicated and diligent postal workers in Europe and have worked closely with Royal Mail during the recent modernisation programme – both the union and senior management should be proud at the steps that have been taken in recent years.
“The Telegraph revealed that the Minister with responsibility for the sell-off, Michael Fallon, signed a letter to a constituent criticising the idea only a few short years ago. This hugely undermines the Government’s case for privatising the cherished service.
“The reason the Government is rushing to do a firesale of the Royal Mail is to raise funds to cover the gaping hole in George Osborne’s failed economic plan which has seen borrowing increase by £245bn more than the Government planned. So Cameron & Osborne are playing politics with the postage stamp and putting their own interests ahead the interests of consumers and small businesses the Royal Mail serves.”