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Postal Services Bill

My Lords, following on the same theme as my noble friend Lord Hoyle, it is pertinent to point out that the Minister did not accept the importance of the question posed by my noble friend Lord Christopher on the previous amendment. We have had a broad sweep of what a marvellous idea private capital is. However, we have no idea about guarantees relating to asset-stripping or about country of ownership, sovereign funds and all the other items on the long list. Does that not dent the picture that we are expected to believe in, given that the picture could be this one, that one or another? Would it not be more relevant to mention the interests of the British people, as we are here to represent the interests of society as a whole? They are interested in such things as the universal service, obviously, and in not selling off public assets. It is said that a big profit will not be made from selling the Royal Mail to private business. Is it not relevant to remind noble Lords that in the great wave of privatisations in the 1980s, the undervaluation of British Airways, British Gas and British Telecom alone on the first day of trading amounted to more than £2 billion? That will happen again prima facie unless the noble Baroness can say how the Bill will ensure that that will not occur.