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Royal Mail

My Lords, I note what my noble friend—actually my old friend, as it happens—has to say about the regulator. Some will share his view that in his commitment both to introducing greater liberalisation to the market and to ensuring the continuation of the universal service obligation, the regulator paid too much attention to the former and not sufficient to the latter. Whether or not that is the case, he will be pleased to hear the Government’s decision to transfer responsibilities to Ofcom from Postcom. I hope that that regulation of the Royal Mail will be more to his satisfaction in the future.