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Proceeding contribution from Lord Razzall (Liberal Democrat) in the House of Lords on Monday, 14 March 2011. It occurred during Committee of the Whole House (HL) and Debate on bill on Postal Services Bill.

Postal Services Bill

I cannot say how much I respect the views of the noble Lord, Lord Lea of Crondall, and the noble Lord, Lord Young of Norwood Green, but I have to say that from what they have just said they are living in fantasy land. We are faced with a situation where, unless the Royal Mail gets significant investment from a third party, it will be in serious financial difficulties. The idea that there will be an IPO or a sale with tranches is from a fantasy world. If people want to oppose the Bill, they should say so; they should say, ““We don’t agree that it should all be sold off””. But, as those of us who deal with the markets every day know, to suggest that in some way we could have 30 per cent here, 30 per cent there and 19 per cent there is a fantasy world.

Secondary information

Type
Proceeding contribution
Reference
726 c101-2 
Session
2010-12
Chamber / Committee
House of Lords chamber
Subjects
Disability Conditions of employment Assets Industrial relations Investment Private sector Northern Ireland Privatisation Property transfer Older people Staff Post offices Postal services Ofcom Post Office Scotland Small businesses Shares Trade unions Wales Rural areas Royal Mail Universal service obligation Parcelforce
Legislation
Postal Services Bill 2010-12
Link
View this Proceeding contribution on www.publications.parliament.uk