Royal Mail

Robert Halfon Excerpts

Thursday 12th September 2013 Commons Chamber

[Michael Fallon]

I do recall hearing roughly the same sentiments from the hon. Gentleman back in the 1980s, but I do not want to return to a world where people waited weeks and months for a phone to be installed. Is he really suggesting that we go back to the days when the state owned car companies, electricity, gas, water and all the rest? Let me be clear about his allegation that the consumer could be ripped off: the price of the second-class stamp will continue to be regulated and will be set by the regulator. It will not be possible for Royal Mail to increase prices in the way he suggests.

[Robert Halfon (Harlow) (Con)]

I welcome the transfer of shares from Royal Mail to the Royal Mail workers, but will my right hon. Friend reassure my constituents in Harlow that we will not go the way of the water companies, where the directors paid themselves huge wages and increased prices for consumers? Will he set out the consumer protection?

[Michael Fallon]

Let me reassure my hon. Friend absolutely that there are no deal bonuses for the senior management as part of the share sale. The protection for the consumer has been laid down by the House in the Postal Services Act 2011, which he will recall—I hope—voting for two years ago. The regulation is set out there and the price of the stamp will continue to be capped by the regulator.