Royal Mail

Philip Hollobone Excerpts

Thursday 12th September 2013 Commons Chamber

[Michael Fallon]

This is not a monopoly market at the moment. There are companies competing in the marketplace, as they have to do under European law. This House has decided that there should be that competition in that particular way and has established Ofcom, for which the hon. Lady used to work, to supervise that competition.

[Mr Philip Hollobone (Kettering) (Con)]

Residents in the borough of Kettering and across Northamptonshire very much value their local post offices. Can the Minister confirm that those post offices will not form part of the Royal Mail privatisation, and indeed will be subject to record additional new investment? Can he also assure the posties who work in the Kettering delivery office that their terms and conditions will not change, and they will be entitled to free shares in up to 10% of Royal Mail?

[Michael Fallon]

I confirm that the Government are committing more than £1.3 billion to modernise the post office network and I can also confirm that all those eligible for Royal Mail shares—those employed by Royal Mail at the time of the statement on 10 July—will be eligible for free shares. More details will be published with the final share offer.