Royal Mail

Baroness Ritchie of Downpatrick Excerpts

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

The legislation provided for at least 10% and we are proposing a 10% free share offer. Postal workers will have priority if there is excessive demand, and stakes could be built up considerably beyond 10%.

[Ms Margaret Ritchie (South Down) (SDLP)]

What long-term decisions will the Secretary of State take, based on only three-year assurances about jobs and services?

[Vince Cable]

They were not my assurances; they were given by the employer, which is Royal Mail. A three-year agreement is perhaps rather long for much of industry, and the work force will have to negotiate again with its future employers.