UK Royal Mail shares proposal attacked
Plans by the Royal Mail to offer its workers a stake in the company are being opposed by almost half of Labour MPs, including allies of Gordon Brown, the chancellor, raising the prospect of a parliamentary clash over the issue in the new year.
Some 160 Labour MPs have signed a Commons motion urging the government to hold on to all shares in the Royal Mail and stick by a general election manifesto commitment to keep it in public hands.
On Tuesday, Allan Leighton, Royal Mail chairman, said he was optimistic of securing government approval for his plan to give a fifth of the company’s shares to its staff.
He told the trade and industry select committee that it would be “very straightforward” to set up a share ownership scheme for employees of the postal services operator.
Read More
