- 21 updates
The Royal Mail "can be successful under public ownership", according to the Deputy General Secretary of the Communication Workers' Union.
Dave Ward dismissed the argument that Royal Mail cannot survive without private investment as "simply not true", before claiming that that the investors who buy shares in Royal Mail would "take far more out than what they put in".
Mr Ward confirmed that the CWU would be balloting their members for strike action.
The Chief Executive of Royal Mail has moved to defend the controversial plan to privatise the organisation and warned workers that the threat of industrial action "makes no sense".
Moya Greene said she understood people's concerns, but insisted the privatisation would dispel "any doubt over the future ownership of the business" and "ensure secure employment" for workers.
The Chief Executive argued there should not be a strike at this "crucial time" for the company, adding that businesses who cannot rely on Royal Mail would look elsewhere.
David Cameron said the Royal Mail is at a "massive disadvantage" being owned by the Government and the business would be "set free" by privatisation.
The Prime Minister told BBC London radio:
George Osborne said he hoped Royal Mail workers would "engage" in plans to privatise the company, amid threats of a strike by postal staff.
"I hope the workforce would engage with this process, they are going to become part owners of the Royal Mail," the Chancellor said.
Osborne defended the decision to float the company on the stock market, saying it would "bring in more investment so we can have a brilliant service".
Royal Mail chief executive Moya Greene was reportedly booed by postal workers when she met union representatives in Birmingham today.
A Communication Workers Union member present at the meeting claimed on Twitter that the Royal Mail's Canadian boss was jeered as she took to the stage.
The CWU member, Kye Dudd, also reported that Greene was "laughed at" when she said she couldn't understand why she was facing a dispute, before before booed off the stage to chants of "Royal Mail not for sale".
The Institute of Directors said the privatisation of the Royal Mail would benefit customers and be a "great opportunity" for employees.
IoD Director General Simon Walker said:
The Communication Workers Union said privatisation of the Royal Mail was the "wrong decision" and would lead to higher prices for customers.
Billy Hayes, CWU general secretary, has called on Labour to commit to renationalising the Royal Mail if elected:
The head of the postal workers' union, Billy Hayes, has reacted to the Government's confirmation that it will sell shares in Royal Mail:
Latest ITV News reports
The Government outlined its controversial plans to privatise the Royal Mail today - a decision which was widely criticised by the unions.
Every time you lick a stamp you are engaging with a service that's been part of the fabric of Britain for centuries, but that is changing.