Plans for the privatisation of the Royal Mail are expected to be unveiled this afternoon, with an estimated valuation of £2.5 billion.

Details of the privatisation are expected to be revealed by Business Secretary Vince Cable in the Commons this afternoon.

The move will represent one of the largest privatisations in the UK for decades.

The move to privatisation is expected to face fierce opposition from trade unions, with the government offering shares worth £2,000 each to 150,000 royal mail staff as an incentive.

The privatisation is expected to increase postal service costs, with the need for cost savings and efficiencies threatening jobs.

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