Philip Hollobone
Main Page: Philip Hollobone (Conservative - Kettering)(11 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text
Vince Cable
We have devoted four to five years of parliamentary time to reflecting on this process, and we are now doing something about it. The hon. Lady includes bodies such as the National Federation of SubPostmasters in her roll call of institutions, but this announcement has nothing to do with the Post Office, which remains under public ownership and is supported in the ways I have described.
Mr Philip Hollobone (Kettering) (Con)
Will the Secretary of State confirm to Royal Mail employees in Kettering that under these proposals they face a 9% pay deal, that the change in ownership will not trigger any change in their terms and conditions, that they will be entitled to their fair share of up to 10% free shares in the new business, and that they will be part of the biggest employee share scheme of any major privatisation?
Vince Cable
The hon. Gentleman summarises the benefits admirably, and I would be amazed if, when they sit down and reflect calmly, members of the Communications Workers Union do not see it the same way.