Jonathan Reynolds responds to the recent announcement about the finances of Royal Mail

Jonathan Reynolds MP, Shadow Labour Business Secretary, responding to the recent announcement about the finances of Royal Mail, said:

“Royal Mail is an integral part of British life and provides essential services to all parts of the country. Today’s news about the finances of Royal Mail are alarming and worryingly could be a precursor for the sell off of an iconic British institution to a company with links to Russia. 

“The Government’s lack of grip has seen yet another British company at risk and questions must be answered about the security implications of their approval of the Vesta equity sale. 

“Labour is calling for an urgent investigation into to understand how this situation has been allowed to happen, the potential implications of this including the risks to national security, and implications for tax payers​”

Ends

Notes

https://www.gov.uk/government/news/government-to-take-no-further-action-under-the-national-security-and-investment-act-2021-on-royal-mail-share-acquisition