Oral Answers to Questions

Roger Williams Excerpts

Thursday 21st March 2013 Commons Chamber

[Mr Speaker]

I do not wish to be unkind to the hon. Gentleman, but he represents a Northamptonshire constituency: he does not feature in north-east Lincolnshire. He is close, but not quite close enough. I will give him a go later, if he is a patient fellow, as I am sure he will be.

[Roger Williams (Brecon and Radnorshire) (LD)]

12. What plans he has to implement a share scheme for Royal Mail employees.

[The Minister of State, Department for Business, Innovation and Skills (Michael Fallon)]

Parliament decided two years ago that employees of Royal Mail should share in its success. It would be wrong to deny employees this any longer. They should be sharing in the company’s success and dividends, and it is our intention to have such a scheme in place at the time that we conduct a sale of Royal Mail.

[Roger Williams]

I thank the Minister for that encouraging reply. The better financial performance of Royal Mail owes much to the loyalty of postmen and women getting the mail out to every address in the country, even in during these difficult weather conditions. Can the Minister give us a little more certainty about the timing of this scheme and how those loyal postmen and women will benefit?

[Michael Fallon]

It is our intention to conduct a sale during the forthcoming financial year, 2013-14, and I confirm that at the time of that sale we intend to make a share scheme available to the 130,000 employees of Royal Mail who, as my hon. Friend says, have worked so tirelessly to turn it into a successful and profitable business and should share in that success.

--- Later in debate ---

[Vince Cable]

The compelling vision has been manifest in the industrial strategy. As the hon. Gentleman will have noted on Monday, the Chancellor and the Prime Minister are fully behind it, and are providing financial support to make that vision a reality.

[Roger Williams (Brecon and Radnorshire) (LD)]

Will the Secretary of State comment on the progress that has been made in Europe on the introduction of transparency to the extractive industries?

[Jo Swinson]

I strongly welcome the support that has been received from both industry and non-governmental organisations for the pursuit of increased transparency in those industries. Talks have been continuing in the European Union this week. We want to make strong EU rules that match the tough United States requirements. There should be no exemptions: listed extractive companies should publish information about all payments that they make to all Governments in all their countries of operation.