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Article: Post Office is pounds 100m worse off as a PLC
- Article from:
- The Independent (London, England)
- Article date:
- July 9, 1999
- Author:
CopyrightCopyright 1999 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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THE POST Office will be pounds 100m a year worse off under
proposals unveiled yesterday, putting thousands of rural branches
under potential threat of closure. Ruling out privatisation in the
short term, Stephen Byers, Secretary of State for Trade and Industry,
said the Post Office would be converted into a plc, giving it more
commercial freedom within the public sector.
But Tony Blair refused to give a guarantee last night that the
Government would not sell its shares in the Post Office, sowing
confusion among trade unions, and fuelling suspicions that there is a
hidden agenda to privatise it.
Mr Byers spent the day reassuring the unions that the Post Office
would remain in public hands, ...