Royal Mint privatisation closer

Royal Mint privatisation closer

news.bbc.co.uk

The government is to move ahead with plans which will pave the way for the Royal Mint to be privatised.

The Mint, which produces all UK coins, is based in Llantrisant in South Wales.

The Treasury said it was being given company status in preparations for an injection of private cash to "pursue further commercial opportunities".

Unions and politicians accused the government of "selling off the family silver", saying the move would lead to job losses among the 70 staff.

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This left me with a state of confusion and another that made me want to laugh out loud.

I just dont understadn how a 'mint' can become a companh and make a profit? It just don't make sense..

How the heck will privatising it help it grow?

"now a strong case for the introduction of private capital into the Royal Mint".

So selling their 'service' of making money for other countries is not enough? Having to keep the UK up to date with coinage and bank notes is not enough? Just how do they intend to expand? What pockets have these private investors got their hands into?

"cement the Royal Mint's position as a high-quality British manufacturing success, competing and winning in global markets".

WHAT???? It hasn't exactly had much choice in the matter has it? You dont see other companies trying to muscle in on the action and becoming competition in the coin making industry, because that would be fraud if anyone else did it.... The only global markets it could compete in is the stock exchange, but it can't exactly make its own money to invest in stocks ad shares..

I'm sorry but this stinks rotten to me.. I am either missing the complete point of it all or there are some really bad eggs cracking open somewhere...

"We have seen the impact of botched privatisations and IT outsourcing in areas such as passports, the Criminal Records Bureau and Tax Credits, resulting in the government bailing out the private sector at a cost of millions to the taxpayer."

At least someone sees a bit of sense behind all this..

news.bbc.co.uk
(visit the link for the full news article)

To me this seems like another way for total control of the Coinage of the UK and its suppliers. I agree there is no route to make a profit as a private company which in its self is a variable which should make this idea void!

S+F

SD