Royal Mail

Jack Dromey Excerpts

Wednesday 10th July 2013 Commons Chamber

[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.

[Jack Dromey (Birmingham, Erdington) (Lab)]

Royal Mail workers and their management have co-operated in a process of radical change to transform Royal Mail into an efficient, effective and profitable world-class company. The public do not want privatisation, and posties do not want privatisation. Will the Secretary of State join me in paying tribute to Royal Mail workers, who by a 96% vote in a ballot said, “Keep your bribe. We want to remain public posties”?

[Vince Cable]

There was a substantial vote on that consultative ballot, but I hope that the hon. Gentleman is not suggesting that it takes precedence over the vote of the House of Commons, which after all brought the process into being. I have already freely acknowledged that the CWU, despite the rhetoric we sometimes hear from it, has played a very constructive role in the modernisation, and we want to help it, as a result of this share offer, to become further aligned in the long term with the interests of the company. If the company makes money and succeeds, the CWU will derive additional benefit.