Cable plots to privatise Royal Mail

By staff

Vince Cable will lead a new effort to part-privatise Royal Mail, it has been confirmed.

The coalition government policy document released today is vague in detail but it reveals that the government “will seek to ensure an injection of private capital into Royal Mail, including opportunities for employee ownership”.

Mr Cable, business secretary, is understood to be keen on restructuring the group and has asked the Lib Dem junior minister at the business department, Ed Davey, to prepare a detailed plan.

The renewed attempt to part-privatise the group comes hot on the heels of an aborted effort last year, when Peter Mandelson backed down from the move in face of intense opposition from trade unions and backbench Labour MPs.