RE: ‘Lancashire County Council warns of £300m budget cut’, earlier I read that local authorities in East Lancashire had sent a postcard to the government objecting to the privatisation of Royal Mail.

I fear this is a largely symbolic gesture and futile. I suspect that in time, Royal Mail will fall into foreign ownership.

It’s been said that the late Margaret Thatcher was much influenced by Hayek’s book ‘The Road to Serfdom’, once placing a copy of the book on a table and saying: This is what we believe.

The time is now due for someone to write the sequel that could be called ‘The Other Road to Serfdom’, explaining what happens to the ordinary citizens in a country when oligarchs and bankers take control and the nation is sold out from under their feet by a venal and hopeless political class.

I’d have been more impressed if local authorities in East Lancashire had petitioned the government to be given free shares in Royal Mail so that the company would effectively be semi-private.

The local authorities could act as long-term shareholders with the aim of holding the stock in perpetuity to counteract the effects of short-term, distant and un-interested owners that is now a characteristic of the joint-stock company.

In addition, if Royal Mail performs well then the local authorities would receive dividend income that could begin the long and arduous process of providing some sort of genuine independence from the centre.

I truly despair of this Coalition Government. Their vision for the futures of the 99% is grim.

Kevin, Colne (via website).