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Royal Mail

I was merely expressing my own view that such an option should not be ruled out. My hon. Friend will have heard the figures that I gave. He will understand the position that Royal Mail is in. A pensions deficit that was valued at £5.9 billion nearly 12 months ago will in fact be substantially worse, and the projected £400 million annual deficit for the foreseeable future can also only get worse. We need to sort out the position; the question is, what is the best way for us to sort it out? Would it be best to sort it out purely through Government money, or to bring in private-sector capital in the form of a minority shareholding while retaining existing expertise and management?