Royal Mail

Charles Hendry Excerpts

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

Indeed. We are moving to a higher level of private involvement than was envisaged under the 2008 proposals, and the reason, which I have given very clearly, is that that minority state ownership would not have enabled the company to borrow as freely as it should.

[Charles Hendry (Wealden) (Con)]

I warmly welcome the proposals. Will the Secretary of State say a little more about the Government’s role in setting performance standards and ensuring they are met, specifically in relation to the proportion of letters and packages that should be delivered in a certain time scale and what is an appropriate price for consumers to pay for that service?

[Vince Cable]

The Government will not be involved in day-to-day oversight of Royal Mail; it will be governed by the regulator, which will set the appropriate standard.