COVENTRY MESSAGE BOARD

Already happened where I come from. Postmen no longer get a regular wage but instead receive a few pennies for each item of junk mail they deliver. The UK can also kiss goodbye to the few remaining local post offices because there's no way a private company will continue to subsidise them.

But will the tax payer get saddled with the pension deficit?

rebbonk wrote:But will the tax payer get saddled with the pension deficit?

The debt will almost certainly be "written off" by the treasury as happened with other public services prior to privatisation.

Confirmed by the government's business secretary last night, the taxpayer will absorb the entire £8billion pension deficit thus allowing private investors to pocket 100% of any future profits made. Also, 50% of existing mail centres will close:

http://www.bbc.co.uk/news/business-11258649