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Richmond upon Thames Liberal Democrats:Covering the constituencies of Twickenham and Richmond Park |
Postal Services Bill agreed by Parliament
June 10, 2011 11:08 AM
• [Jun 09] Vince Cable writes: TODAY marks a significant milestone for Royal Mail. Legislation has now been agreed that will help tackle the huge challenges facing the company. Royal Mail and the Post Office are important and cherished parts of our society. It was vital we took swift action to put them both on a sustainable footing. Passing the legislation, reforming regulation, getting state aid approval, tackling the pension deficit - these are all vital steps that will provide momentum towards a sale of Royal Mail. They will also give the company the security and certainty it needs to press ahead with its essential modernisation programme.
. . Ed Davey, Minister for Postal Affairs, writes: TODAY is unquestionably a major step forward in protecting our universal postal service and our Post Office network. We have worked extremely hard to ensure the best possible outcomes for the taxpayer and the dedicated employees of Royal Mail and the Post Office up and down the country. At least 10 per cent of the shares in Royal Mail will go to its employees as part of the sale process. Royal Mail's staff will get secure pensions. And the proposed support will ensure that the company is on a sound commercial footing and can operate on a level playing field.
• Postal Services Bill agreed by Parliament [BIS Press Office]
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