Potal workers in the Midlands have accused the Government of throwing the Royal Mail to the “vultures of the private sector” in a furious backlash against privatisation.

Lee Barron, Midlands Regional Secretary for the Communication Workers Union, fired off an angry broadside at Business Secretary Vince Cable’s announcement that the postal giant is to be privatised.

The biggest privatisation for two decades will see the Government sell off 90 per cent of the Royal Mail, with the remaining 10 per cent share going to employees.

But Mr Barron, leader of thousands of postal workers across the region, said: “This coalition Government has no mandate from the public to go ahead and sell off this cherished national institution.

“All opinion polls show the public oppose privatisation and this plan is just political dogma and an outdated, unpopular privatisation policy that should be left where it belongs, in the last century.

“By throwing the Royal Mail to the vultures of the private sector the essential public service ethos will be lost.

“The current one price goes anywhere six days per week service cannot be sustained long-term if the profits are being taken out of the industry through shares.

“The assurances about the Post Office network are short term and threaten the future of the Post Office network.

“Postal workers are committed to fight the sell-off plans and we will be building up local coalitions with communities in every marginal Parliamentary seat to demand that this Coalition Government’s MPs truly represent the people who elected them.”

Business Secretary Mr Cable said the sale would not take place before next summer, with overseas buyers in the frame.

“It could be a trade sale, it could be another financial structure. We’re not nationalists in this Government.

“We’re not going on a nationalist jihad against foreign companies.”

Royal Mail employs more than 180,000 postal staff while the Post Office runs a 12,000 strong branch network.