Russell Brown
Main Page: Russell Brown (Labour - Dumfries and Galloway)Department Debates - View all Russell Brown's debates with the Department for Education
(11 years, 9 months ago)
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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.
Mr Russell Brown (Dumfries and Galloway) (Lab)
What assurances can the Minister give to small businesses and many individuals across the UK who rely on a well performing, six-day-a-week service to their homes and businesses? Will that remain so once Royal Mail is privatised?
Michael Fallon
Yes, it will, because Parliament put in place, in the Postal Services Act 2011, the statutory requirement for a universal postal service that is secured by Ofcom, an independent regulator, and that will exist irrespective of the ownership of Royal Mail.