Mandelson on Andrew Marr show

[Stormproof]

:mfo is on the Andrew Marr show this morning, I doubt he'll mention anything about RM

[borders]

just finished watching him , Andrew Marr asked him if the RM privatisation was still going ahead and his reply was yes but in this present economic climate there was a problem , at which Marr interrupted him and we never got to hear what the problem was !!! idiot Marr !! any ideas people ??

[tiredwalker]

just finished watching him , Andrew Marr asked him if the RM privatisation was still going ahead and his reply was yes but in this present economic climate there was a problem , at which ,this point Marr interrupted him and we never got to hear what the problem was !!! idiot Marr !! any ideas chaps ??

I think we all know the problem don't you?

[borders]

give us a clue !!!!

[tiredwalker]

give us a clue !!!!

The current bids are not what the government want or expected

[borders]

[norbert]

just finished watching him , Andrew Marr asked him if the RM privatisation was still going ahead and his reply was yes but in this present economic climate there was a problem , at which Marr interrupted him and we never got to hear what the problem was !!! idiot Marr !! any ideas people ??

too nice - the other problem is that they are too frightened to upset New Labour as they'll might have problems with TV Licensing or worse ! , pity Paxman wasn't around to Rottwellier him eh !

There's a Scottish guy on Radio 4's " Today " programme that's famous for making them squirm in their seats .

Rory Bremner is on tonight - My God ! , they'll have the p*** taken out of them ! , Channel Four you see

[savo]

You will never see marr ask a labour politician a difficult question.... thats why Mr Clown appears on their occasionally for an easy ride..

They are terrified of Paxo, and it will be a cold day in hell before Brown agrees to a live TV debate with Cameron.

[baldrick]

I saw the interview too, Marr was pushing him as to whether the RM
part-privatisation would go through, and when. Mandelson continued
to say it was necessary, but wouldn't say when the postponed Second
Reading would take place, saying he wasn't responsible for the timetabling
of Government business. pressed again at the end of the interview as
to when it might be heard he replied "In due course". :mfo

[k979aaa]

I saw the interview too, Marr was pushing him as to whether the RM
part-privatisation would go through, and when. Mandelson continued
to say it was necessary, but wouldn't say when the postponed Second
Reading would take place, saying he wasn't responsible for the timetabling
of Government business. pressed again at the end of the interview as
to when it might be heard he replied "In due course". :mfo

In which the reply was if anyone will back me or sack me!. It is not the first time he has been sacked!.

[borders]

Dimbleby on BBC2 has just said there is a report in the Times on Monday that the RM privatisation has been deferred.

[brothermagrew]

Dimbleby on BBC2 has just said there is a report in the Times on Monday that the RM privatisation has been deferred.

And in an article in the Monday edition of the Scottish Sun newspaper, it is reported as saying, the PM in his make or break showdown with his party MPs this evening, is preparing to buy them off by promising an Iraq War probe and will shelve plans to sell of the Royal Mail within days.

[borders]

very interesting , cheers.

[borders]

THE chairman of Royal Mail says he is ready to close the group’s final-salary pension scheme, one of the largest of its kind in Britain, if plans to part-privatise Royal Mail fail.

Donald Brydon’s warning came in the same week as three large British companies – BP, Barclays and WM Morrison – made moves to reduce their future pension liabilities.

Brydon said: “If we don’t get this relief [part privatisation] from the government we are going to have to look at the same option as Barclays and close the pension scheme to existing members.”

The government is committed to selling a stake in Royal Mail’s letters business. But there is only one bidder left in the negotiations – CVC, the private-equity group, and its offer is regarded as too low.

Closing the pension scheme, which is based on career average pay, would be a huge blow to its 150,000 members and could lead to strikes by postmen. “I don’t think they would be pleased, but this is reality,” Brydon said. “The government will not bail out the pension fund and employees if the [part-pri-vatisation] bill is not passed.”

He added: “You can bet that telling our existing members that there is a fundamental risk to their pension is not where I want to be. But if we are unable to get any progress with the government on selling a stake, closing the fund will be at the top of the options list.”

Experts believe other big companies are also considering sharp cuts to pension benefits, including tax-payer-backed banks such as Royal Bank of Scotland, Northern Rock and Bradford & Bingley.

Royal Mail would become the first government body – it is in effect owned by the state – to make inroads into public-service pension entitlements.

Brydon said it had little choice. The deficit in its pension fund could be more than £10 billion when the latest triennial review is published this summer. That would require an additional £500m a year to be injected into the scheme on top of the Royal Mail’s existing commitment.

This could mean more than £1 billion a year of Royal Mail’s profits were being put into its pension fund. Brydon said it was already facing a £800m cash outflow this year.

Brydon’s warning was made on the eve of the Communication Workers Union’s annual conference. The union is already incensed at Labour’s commitment to part-priv-atise Royal Mail.

Meanwhile, the Pension Protection Fund, the government “lifeboat” set up to take on the responsibilities of bust companies, is estimated to have seen its deficit treble in the past 12 months to almost £1.5 billion after being forced to soak up the liabilities of many defunct firms.

There are now 292 pension funds poised to fall into the lifeboat fund. These include schemes run by Woolworths and Lehman Brothers and a giant fund run by Nortel, the collapsed telecoms firm.

Pension experts insist that the protection fund would be bust if it was judged on the same measures as private pension providers.

[Lounge Lizard]

THE chairman of Royal Mail says he is ready to close the group’s final-salary pension scheme, one of the largest of its kind in Britain, if plans to part-privatise Royal Mail fail.

Donald Brydon’s warning came in the same week as three large British companies – BP, Barclays and WM Morrison – made moves to reduce their future pension liabilities.

Brydon said: “If we don’t get this relief [part privatisation] from the government we are going to have to look at the same option as Barclays and close the pension scheme to existing members.”

The government is committed to selling a stake in Royal Mail’s letters business. But there is only one bidder left in the negotiations – CVC, the private-equity group, and its offer is regarded as too low.

Closing the pension scheme, which is based on career average pay, would be a huge blow to its 150,000 members and could lead to strikes by postmen. “I don’t think they would be pleased, but this is reality,” Brydon said. “The government will not bail out the pension fund and employees if the [part-pri-vatisation] bill is not passed.”

He added: “You can bet that telling our existing members that there is a fundamental risk to their pension is not where I want to be. But if we are unable to get any progress with the government on selling a stake, closing the fund will be at the top of the options list.”

Experts believe other big companies are also considering sharp cuts to pension benefits, including tax-payer-backed banks such as Royal Bank of Scotland, Northern Rock and Bradford & Bingley.

Royal Mail would become the first government body – it is in effect owned by the state – to make inroads into public-service pension entitlements.

Brydon said it had little choice. The deficit in its pension fund could be more than £10 billion when the latest triennial review is published this summer. That would require an additional £500m a year to be injected into the scheme on top of the Royal Mail’s existing commitment.

This could mean more than £1 billion a year of Royal Mail’s profits were being put into its pension fund. Brydon said it was already facing a £800m cash outflow this year.

Brydon’s warning was made on the eve of the Communication Workers Union’s annual conference. The union is already incensed at Labour’s commitment to part-priv-atise Royal Mail.

Meanwhile, the Pension Protection Fund, the government “lifeboat” set up to take on the responsibilities of bust companies, is estimated to have seen its deficit treble in the past 12 months to almost £1.5 billion after being forced to soak up the liabilities of many defunct firms.

There are now 292 pension funds poised to fall into the lifeboat fund. These include schemes run by Woolworths and Lehman Brothers and a giant fund run by Nortel, the collapsed telecoms firm.

Pension experts insist that the protection fund would be bust if it was judged on the same measures as private pension providers.

Where's the logic in that ?
As if part privatisation would bring in enough money to solve the pension deficit, and the fraction of the sum now expected certainly wouldn't.
This new Brydon bloke can't seriously expect is to support part privatisation to save our pensions.