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Royal Mail

That is precisely the point I am coming on to. I wonder whether the hon. Gentleman will allow me to develop it in my own words and intervene again later if he wants to. Hooper makes it clear that the commercial partnership is far more important—or at least equally as important—as the capital. His key point is the need for engagement between the unions, particularly the Communication Workers Union, and the modernisation process. That is something that requires trust, so I want to put a suggestion to the Minister about how that might be achieved. Simply banging in and issuing a slug of shares for money will not necessarily accomplish that task. My suggestion to him has been part of our policy for three years, so I hope he looks very carefully at it. It is to give the work force a substantial holding in Royal Mail as part of the overall package. It is not quite, as some have said it is, the John Lewis model, because that obviously requires 100 per cent. ownership, but I submit that providing a real equity stake in the company could go quite a long way towards aiming all the partners and stakeholders broadly in the same direction and might help to deliver some of the trust that Hooper says is so greatly lacking.