Labour has raised concerns that the Government’s “rush” to privatise the Royal Mail could lead to the postal company being sold "on the cheap".
Shadow business secretary Chuka Umunna said the prospectus for the controversial sell off outlines that Royal Mail operates from 2,000 sites across Britain including delivery offices and mail centres.
He warned of fears that once the privatisation is complete these assets nwill be sold, giving a large windfall to investors, while the taxpayer is “short changed”.
Customers could be left having to trek miles to delivery offices, he said. The prospectus highlights three sites in London at Mount Pleasant, Nine Elms and Paddington as being “surplus”, with some reports saying they were worth between £500m and £1bn, said Labour, adding that the document failed to specify which of Royal Mail’s other sites could be sold off.