Royal Mail

Ann McKechin Excerpts

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

Indeed. That was raised when the Postal Services Act 2011 went through the House two and half years ago. The commitments were made then, and they are embedded in legislation.

[Ann McKechin (Glasgow North) (Lab)]

Will the Secretary of State confirm what proportion of the sale proceeds will be reinvested in the business rather than taken as profit?[Official Report, 15 July 2013, Vol. 566, c. 3-4MC.]

[Vince Cable]

We are not making any advance predictions as to what the sale proceeds will be or how they will be utilised. We are giving Royal Mail the commercial freedom to make those decisions itself.