tag:blogger.com,1999:blog-4433144336299288135.post4876730649741540194..comments2024-03-26T13:27:26.499+00:00Comments on Zelo Street: Royal Mail Spin FailTim Fentonhttp://www.blogger.com/profile/00726447899972084146noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4433144336299288135.post-34479491963524631082014-04-03T10:29:28.775+01:002014-04-03T10:29:28.775+01:00"“David Cameron said the sale had benefited t..."“David Cameron said the sale had benefited the taxpayer in three ways: it had generated money for the country, the Royal Mail was now a ‘profit-making company paying taxes into the Exchequer’ and Britain had a successful business”. We also got that at PMQs – but it was already a profit-making company and was already paying taxes into the Exchequer before being flogged off."<br /><br />He also left out that future taxpayers will have to pay off the pension fund deficit (which allowed Royal Mail to make a profit) see:<br /><br />http://www.if.org.uk/archives/4280/the-privatisation-of-royal-mail-what-about-the-pension-scheme <br /><br />"Or rather, he (Osborne) didn’t. What he chose to emphasise during his actual speech was that the government would be absorbing the £28 billion worth of assets held by the pension scheme, which it could use to pay down the national debt. The fact that this move also meant future taxpayers would be liable to the pension scheme’s liabilities – estimated at £37.5 billion – was (deliberately) left unsaidrobnoreply@blogger.com