It’s Official – Taxpayers ‘lost £1bn’ on Royal Mail sale

Every news outlet today is running with the major story of the offoicial report that proves us, the UK taxpayer, has lost about £1bn in the privatisation of the Royal Mail. This is a disgrace in its own right, but the Mount Pleasant Association is particularly heartened to see that at last MPs and journalists are making the further link between this already significant scandal and the potentially larger issue of the land assets the RMG was virtually gifted when privatised.

The report highlights ‘three sites in London’ – one of which is Mount Pleasant – which the National Audit Office (NAO) said had a hidden value of up to £830m.

If Boris says yes to this planning application, the Mount Pleasant site will jump from being virtually valueless to being worth an estimated half a billion pounds.

We, the local community, believe that if the RMG is allowed to make such enormous profits from our neighbourhood, they need to behave like a good and responsible neighbour and give something back – not just statutory Section 106 payments.

To read the full story in the BBC, click HERE or on the image below.

bbc 110714

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