Royal Mail Debate

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Tuesday 1st April 2014

(10 years, 1 month ago)

Commons Chamber
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Vince Cable Portrait Vince Cable
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I am not sure why I am expected to apologise for a planning decision in the hon. Lady’s constituency that relates to an application made when the enterprise was under public ownership.

Jim Shannon Portrait Jim Shannon (Strangford) (DUP)
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Does the Secretary of State agree that the loss of £750 million in one day warrants closer examination or an inquiry? At the time of the sale, he indicated that no jobs would be lost and that jobs would be retained. The suggestion in the press today, and from the unions, is that jobs will be lost. Will the Secretary of State say what discussions he has had with the new owners of Royal Mail and those in a position to indicate whether jobs will be retained?

Vince Cable Portrait Vince Cable
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Because we no longer own Royal Mail—we are a substantial minority shareholder—we do not dictate to it what its manpower policy should be. Many jobs were of course lost under public ownership. As I understand it, the proposal currently being put forward, and which is being contested by Unite, relates primarily to white collar executives rather than members of the Communication Workers Union, but that is a matter for them to resolve.