Royal Mail
Debate between Pat Glass and Vince CableUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
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Vince Cable
That is a helpful point and the NAO report draws attention to the competitive rates paid on fees.
Pat Glass (North West Durham) (Lab)
Despite hedge funds and shareholders making a killing from Royal Mail, it seems that is not enough. Yesterday, the price of a first-class stamp went up by more than 6%—more than twice the rate of inflation. Having failed to protect the taxpayer, what will the Government do to protect the consumer, particularly in the monopoly areas of this now private company?
Vince Cable
As I said in response to an earlier question, the price of a first-class stamp is regulated and subject to the approval of Postcomm.