Future of Postal Services
Debate between Ian Lavery and Tahir Ali(1 year, 9 months ago)
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Tahir Ali
I agree with the hon. Member’s comments and I hope to cover that specific issue later in my speech. The longer interventions are, the less time other Members will get.
All Royal Mail deliveries were achieved in a way that satisfied most service users. Some 83% of residential customers said they were satisfied with Royal Mail’s service, while 79% of small and medium-sized enterprises said they were satisfied. That was all the result of hard work and sacrifice by Royal Mail staff, who increased the revenues of Royal Mail by a huge 40%, generating healthy profits of £758 million for the company in 2021.
However, £576 million of those profits were promptly paid out to shareholders, with the chief executive officer of Royal Mail, Simon Thompson, paying himself a massive bonus of £140,000. Let us pause for a minute and think about what that £570 million could have done if it had come into the Treasury. It could have contributed hugely towards money to pay nurses, doctors and ambulance drivers.
Ian Lavery (Wansbeck) (Lab)
I congratulate my hon. Friend on securing this timely debate. He mentioned the chief executive officer of Royal Mail, Simon Thompson. Does my hon. Friend agree that if Royal Mail is to be sorted out for the future, which the CWU was trying to do, Simon Thompson has no place as chief executive officer?