Royal Mail

Rob Wilson Excerpts

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

There will be no moves in that direction. I am slightly astounded by the hon. Gentleman’s comments on zero-hour contracts. Such contracts operated for many years under the Labour Government, who chose to do nothing about them whatsoever. I am the first Secretary of State who has investigated exactly what is going on in that market.

[Mr Rob Wilson (Reading East) (Con)]

I welcome the Secretary of State’s statement; this is probably the most sustainable way of ensuring the future of Royal Mail. Will he explain why he has settled on a figure of 10% for company shareholding for posties, and say whether there is scope to consider a slightly bigger stake for posties in Reading and the country so that workers have a bigger say in what happens in Royal Mail?

[Vince Cable]

The legislation provided for at least 10% and we are proposing a 10% free share offer. Postal workers will have priority if there is excessive demand, and stakes could be built up considerably beyond 10%.