Simon Hughes
Main Page: Simon Hughes (Liberal Democrat - Bermondsey and Old Southwark)(11 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text
Vince Cable
Of course there is no magic wand, but with a combination of modernisation and support, and maintaining community-based post offices, which we are committed to do, many of the warnings that the Opposition have given us will be superfluous.
Simon Hughes (Bermondsey and Old Southwark) (LD)
Will the Secretary of State confirm that what he has announced is consistent with the Liberal Democrats’ 2010 manifesto and the coalition agreement, in that only a minority of shares will be put out to the private sector for purchase and the majority interest will be retained by the Government and the employees? That is what I support. I do not support a majority sale.
Vince Cable
I made it very clear that the Government plan to become a minority shareholder in the company and that the majority will be a combination of shares sold in the market and shares held by employees. We are not predicting at this stage how far the sale will go, as that will depend on the market.