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Editor's Blog
Editor's Blog
Blogs » Editor's Blog

Sharing The Nations Wealth?

Royal Mail has been dramatically undervalued by the UK Government. They have sold off a valuable National Asset cheaply.

Vince Cable and others have spoken about "waiting to see when the share price settles down".This is rubbish.With the ever-growing boom in internet shopping,plus the fact that Royal Mail PLC will soon be a takeover target, up is the only way for the share price.

The mess made with the Royal Mail sell-off is being replicated at Lloyds Bank. The Government agreed with their chums in the City a) a price for the original block of shares below market value and b) not to sell further shares for 90 days.Brilliant.This simply means that the price for the remaining shares will be the same(if we are lucky) and the City will be rolling in profits when the share price rises after the final sale by the Government.Lloyds will be another takeover target in due course,given its modest valuation.

David Cameron says " there is nothing wrong with profit".Absolutely correct.What is wrong is the utter predictability of where the profits are made.Not by the Government for the UK Public, but for the fat cats in the City,who enjoy a standard of living that they have not earned but have been gifted by a system set-up purely for their benefit.

We need change. When will a Government deliver it?

Saturday, 19th October 2013

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