Tom Blenkinsop
Main Page: Tom Blenkinsop (Labour - Middlesbrough South and East Cleveland)(10 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text
Michael Fallon
It will of course be UK-headquartered. It will have multiple owners after privatisation. Those who are located in the UK are able to apply for shares on the issue. We are not restricting the issue to UK citizens or UK nationals. Anybody located here can invest in the business through the retail offer. Having a multiple ownership is the best possible protection for the company. I repeat that we deliberately decided not to sell the company to a single owner or single private equity company.
Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)
TNT, one of Royal Mail’s competitors, provides the core service in Holland on a similar basis to the Royal Mail, with VAT exemptions. However, the universal service obligation in Holland and across much of the EU is very different from the UK USO—it is on a five-day basis. The Minister knows that his Government’s Postal Services Act 2011 allows him to go upstairs and, through a statutory instrument, change the USO from six days to five days. Will he do that in the future?
Michael Fallon
No, it is not possible to change the six-day service through a statutory instrument. That can only be changed by this House. As I have said, we have absolutely no plans to change that obligation.