Postal workers face an uncertain future

As a result, the Communication Workers Union (CWU) has called for a parliamentary probe into Royal Mail finances.

The union accusation is the latest move in a long running battle over a projected 30,000 Royal Mail job cuts.

However, CWU Deputy General Secretary Dave Ward said the two sides were closer than most people thought and expressed a willingness to reconvene talks that broke down acrimoniously last month.

Investigation

Speaking to reporters at the Trades Union Congress, Mr Ward said: "The Post Office's financial position is not as bad as it is making out. It just wants to rip 30,000 jobs out of the industry."

He added that Royal Mail's losses had halved during the last year to �600m and that the postal firm would soon be back in the black.

We believe the funding gap has disappeared, and we are ready to meet again in the next few days Dave Ward CWU

Mr Ward called on the influential Trade and Industry Select Committee to investigate the Royal Mail's finances.

The unions and management at the Royal Mail have been at loggerheads ever since the board of directors announced that a future pay increase would be linked to cost cuts.

Strike ballot

In August talks at the conciliation service Acas broke down after the union rejected the Royal Mail's offer of a 14.5% pay rise over the next 18 months.

The CWU posted strike ballot papers to 160,000 members.

At the time of the talks breakdown Royal Mail chief executive Adam Crozier accused the union of not being prepared to be 'realistic' or allowing 'grown up discussions to take place.'

Nevertheless, Mr Ward did not rule out a deal being struck before any industrial action took place.

"There is a good chance of a deal. We believe the funding gap has disappeared, and we are ready to meet again in the next few days," he said.

Mr Ward also acknowledged that some job losses were likely to result from any Royal Mail restructuring.