Labour drops privatisation of Royal Mail
It looks to me, from the manifesto, as if Labour has completely dropped its commitment to privatise Royal Mail in whole or part.
Royal Mail would stay in the public sector under Labour. The CWU union, big donors to Labour, have won that battle.
Update 1220: Labour's policy on the privatisation of Northern Rock will be seen by many as facing in two contradictory directions.
On the one hand, Labour would encourage "as one option" a so-called "mutual solution", or turning the reconstructed Rock back into a building society owned by members.
One the other hand, it wants the deal to generate "maximum value-for-money for the taxpayer".
These two ambitions are - on the face of it - completely incompatible.
Mutualising the Rock would involve giving it to the banks' current savers and borrowers.
Even if some way could be found for the Rock's customers to pay something for the Rock, it stretches credulity to breaking point that this would raise as much as a sale to another bank or even a stock-market flotation.
Many will say that Labour can't have it both ways - that it must choose between maximising the return for tax-payers or mutualising the Rock.