Foreign ownership of our infrastructure has failed so why are we allowing the sell off of Royal Mail? - Yorkshire Post Letters

Water, power supplies, major parts of the railways, other parts of our infrastructure and significant industries, are now mainly foreign owned and controlled.

The so-called regulators Ofwat, Ofgem, Ofcom etc. who are supposed to control them are as useful as a chocolate fireguard. So we have sewage polluting our lakes and rivers. The power system is hideously expensive and unreliable (outages are more frequent). The wind farm operators went on strike when new licences were offered until the rates increased by 70 per cent plus.

Privatisation and foreign ownership of these significant parts of our economy has not proved an unmitigated blessing rather the opposite.

Now the Tory government will allow Royal Mail to be transferred to foreign ownership and control. This takeover is being financed by debt of £3bn which will be loaded onto Royal Mail.

To repay this large price rises, swingeing cuts in services, job losses and selling off parts of the business e.g. Parcelforce - the only decent courier service - will ensue.

The only beneficiaries of this activity are the people wearing red braces in the City of London of whom Sunak is a paid up member.

They defend the deal as encouraging foreign inward investment. It is not investment, it is pure financial chicanery and asset stripping. The government claims that guarantees as to service levels etc. will be obtained. They are useless. See what happened in the Cobham takeover. This takeover must be stopped.