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Union slams Royal Mint privatisation plan

25 November 2008

Government plans to privatise the Royal Mint have been rejected by the Public & Commercial Services union (PCS), which represents staff at the Llantrisant site. The Chancellor's Pre-Budget Statement yesterday included a commitment to "explore the potential benefits of alternative future models for the Royal Mint" - a thinly-veiled reference to some form of privatisation, which has been actively considered by the Government in the past.

PCS National Officer, Peter Harris, commented:

‘“The announcement came as a complete shock to the Trade Unions at the Royal Mint as only last week we met with the senior management team to discuss the excellent progress made in the last year and their future plans to sustain recent improvements and profitability. Selling the Mint was not on the agenda.

"Previous reviews by the Government have always come out against the privatisation of the Royal Mint. They seem desperate to make so called efficiency savings but this really is selling off the 800 year old family silver.

"The staff have a strong record in delivering an important and vital service with efficiency and professionalism. All financial targets set by the Government have been exceeded and last year they made a profit of nearly £10m. In the latest annual report, the Chief Executive makes reference to the commitment, energy and undoubted skills of the staff. This is not the time to be jeopardising a successful example of public sector provision and transferring dedicated public servants into the private sector. We cannot let the Government sell off an important public asset at some knock down price. The market value now would be well below its true value.”
 

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