If it cannot function without taxpayers' money, either the prices have to go up considerably, sell it off and let the private sector sort out the militancy that exists, or just close it. Obviously, closing it isn't really an option as it would effectively the same as privatising it without selling it, although the assets could be sold. That all sounds rather simple, but simple is always better than complicated.
We would have to change the way we expect our post, maybe have to have a weekly collection from the nearest sorting office. Shock horror, of all things, but a guaranteed postal service to anywhere in the UK costs money that no one seems to want to pay.
Of course, if something is important enough to be needed sooner than a collection time, there are already services available, they just cost a bit more than a stamp. Parcel delivery companies can deliver really small parcels, they just charge for the service. Doing that would rid of this age old argument. The less the government has to be involved in, the better, whatever party is in power.
That'll be popular, I am sure Stolenfaeces will have something to say about my comment
For simple people, simple is better than complex. That was not, however, the attitude which led most of the globe to be painted red.
It's a great saving if you sell off a public service to cabinet chums and Tory party donors. How do they run the service more 'efficiently' ? First they sack a load of people, who end up on jsa, housing benefits etc. then they reduce the wages of the rest (apart of course from the board), and because their new wages are so poor they are entitled to housing benefits and tax credits, and as they are so impoverished they have less to spend, so vat takings reduce.
Due to this efficiency the government apparently aren't subsidising this company any more. And even though they are apparently making lots of cash with this 'efficient' business they somehow Don't make enough in the UK to pay any tax, and their irreplaceable managers have to paid 200 times the pay (in this case) of an ordinary postman.