Hands off our silver - keep the Royal Mint in the public purse
21st October 2009
At a lobby of parliament today (21st October 2009), Unite
members working for the Royal Mint will urge MPs to keep the
nation's silver in the public purse.
The three trade unions at the Royal Mint (Unite, PCS and
Prospect) have deep concerns about its future.
In April this year, Gerry Grimestone a former civil servant
during the Thatcher government, recommended that there was a strong
case for the introduction of private capital to the Royal Mint.
Sarah McCarthy-Fry, the exchequer secretary to the Treasury, has
not made a decision on any possible future privatisation.
While Unite understands the pressure to plug the gap in the
public finances resulting from the recession, the union believes
the best long term interests of the country, the Mint and its
staff, lie in keeping the nation's silver in public hands. The
Royal Mint's 2008/2009 profit after exceptional items and interest
was £4.3 million, which is net revenue for the Treasury.
Unite national officer Kevin Coyne said: "Staff at Royal Mint
will tell MPs it's in the best interests of the country and Royal
Mint to keep the nation's silver in the public purse. The private
sector can not be allowed to 'coin in' on the Royal Mint's
profits, as well as hundreds of years of tradition and
craftsmanship."
Opened by the Queen in 1968 in readiness for the introduction of
decimal coinage, the Royal Mint's headquarters in Llantrisant,
South Wales, employs more than 700 people.
The Royal Mint is the world's leading export mint, making coins
and medals for an average of 60 countries every year. However, its
first responsibility is to make and distribute United Kingdom
coins, as well as to supply blanks and official medals.
ENDS
Contact: Ciaran Naidoo on 07768 931 315
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