Royal Mail will receive cash boost

George Osborne yesterday announced the government will seek a cash injection for the Royal Mail Group.

The chancellor said he would press ahead with “long overdue” plans to attract private investment in the flagging institution.

However, the announcement fell short of some predictions that the national postal service would be floated on the London Stock Exchange.

Postal affairs minister Ed Davey admitted this month a public listing was an option for the coalition. Analysts believe a full flotation of the service could rake in as much as £9bn.