UK Politics

Liberal Democratic Party: Cable: Hooper paints clear picture of way forward for Royal Mail

Press Release   •   Sep 13, 2010 12:31 BST

“We are committed to finding a solution that ensures a sustainable future for Royal Mail, value for money for the taxpayer and a stake in the company for its employees," Vince Cable said.

Business secretary Vince Cable today said updates to the Hooper report, published today, paint a clear picture of the way forward for the Royal Mail.

“As Richard Hooper’s report shows, Royal Mail is in terrible difficulty – it is facing a declining market, huge pension deficit and needs to modernise.

“We are committed to finding a solution that ensures a sustainable future for Royal Mail, value for money for the taxpayer and a stake in the company for its employees. Something Labour failed to do.

“No option for how we introduce private investment has been ruled in or out – we need flexibility in legislation to get the best outcome for Royal Mail.

“On the separate issue of the Post Office network, the Post Office network is not for sale. There will be no programme of closures.”