Royal Mail
Debate between Glenda Jackson and Michael Fallon(10 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text
Michael Fallon
It sounds as though TNT is a little nervous about a more competitive and better financed Royal Mail. We will see how many of the hon. Gentleman’s constituents working at that sorting office choose to opt out of the share scheme in the next few weeks.
Glenda Jackson (Hampstead and Kilburn) (Lab)
The Minister continues to refute the allegation that this is a fire sale, but as 70% of people in this country are totally opposed to such privatisation, will not the flotation occur in an atmosphere in which the basic share price will automatically be reduced, so the taxpayer will have been cheated?
Michael Fallon
It is one of the primary objectives of the sale to secure maximum value for money for the taxpayer, and of course it will be subject to scrutiny in this House, as previous sales have been, and by the National Audit Office.