Edward Leigh
Main Page: Edward Leigh (Conservative - Gainsborough)(10 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text
Vince Cable
There will be a combination of institutional and private investors. There will be a retail offering that can be obtained by two routes: by applying to the Government directly over the internet, and through brokers. Ownership will be widely dispersed.
Sir Edward Leigh (Gainsborough) (Con)
Some 20 years ago, as Post Office Minister, I tried to privatise Royal Mail. We could not get it through because of Labour intransigence. Labour Members were wrong then and they are wrong now. Has not the only result of the delay been a lack of investment and an inability on the part of this publicly owned corporation to respond to international and technological challenges?
Vince Cable
I know that it is tempting to blame the Labour party for a lot of things, but I seem to remember that the attempted privatisation under the hon. Gentleman’s stewardship ground to a halt because Mrs Thatcher was against it. We have moved on and circumstances are different. Indeed, this is a substantial commitment to making a real success of what the Prime Minister called a very important public service.