Rolling coverage of the latest economic and financial news
- UK water companies offer apology and £10bn investment for sewage spills
Despite reporting a £1bn loss this morning, Keith Williams, the chair of Royal Mail, argues there are reasons to be optimistic.
Williams says Royal Mail is sorry that it hasn’t delivered a better service, and insists that the universal service obligation must be reformed.
“I said before that we had reached a crossroads at Royal Mail. Now that we have a negotiators agreement with CWU that will shortly go out to ballot, and thanks to the good progress made on our five-point plan to stabilise Royal Mail, our destination is coming into sight.”
“There is now a clear path towards a more competitive and profitable Royal Mail, delivering improved services for our customers whilst further reducing our environmental impact. Importantly, if ratified, the CWU agreement provides greater job security and increased rewards – through both pay and profit share – for our employees. Successful delivery of the agreement will be key.”
We urge the Government to work with us to protect the long-term sustainability of the one-price-goes-anywhere Universal Service.
