Letters to the Editor – 21/10 – Royal Mail sale, Prince Charles, Best of Twitter
Royal Mail sale
[Re: Cable pens another defence of Royal Mail selloff as shares soar to 500p, Friday]
Vince Cable is right to say that it is too soon to criticise the government’s pricing of Royal Mail. Only half of the government’s stake has been sold so far, and the shares have just been trading for a matter of days. The outcome of labour disputes also hangs in the balance. Stock prices are often extremely volatile in the months immediately after an IPO, only later settling down to a stable value. To say that the government got it wrong simply because of the rising share price is to speak too soon.
Lucas Wetherall
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Prince Charles
[Re: Was Prince Charles right to criticise the UK pensions industry as unfit for purpose?, Friday]
While I usually admire Ros Altmann’s insightful articles, I disagree with her here. Prince Charles used existing concerns about short-termism, a rising population, and a strain on resources to argue that pension funds should allocate more of their portfolios to sustainable (green) firms. He sees a convergence of the two issues. So by implication, he is saying that pension funds should not invest in oil refineries, mines, airlines, or tobacco companies. This would rather limit the possibilities for growth.
Name Withheld
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BEST OF TWITTER
I don’t know how anyone has the neck to complain about fuel prices and oppose fracking all at once.
@cjsnowdon
Evidence of tightening labour market – vacancies up 12.5 per cent in past year – highest level since 2008.
@asentance
Bank shows lending to businesses fell again by £2.3bn in the three months to August.
@D_Blanchflower
So the SNP are the first party in the UK to pledge to cut green taxes, taking 5 per cent off energy bills.
@dylsharpe