Oral Answers to Questions Debate

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Department: Department for Education

Oral Answers to Questions

Russell Brown Excerpts
Thursday 21st March 2013

(11 years, 10 months ago)

Commons Chamber
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Michael Fallon Portrait Michael Fallon
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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.

Russell Brown Portrait Mr Russell Brown (Dumfries and Galloway) (Lab)
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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 Portrait Michael Fallon
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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.