Postal Services Bill

Part of Planning (Developer Bonds) – in the House of Commons at 4:23 pm on 27th October 2010.

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Photo of Jesse Norman Jesse Norman Conservative, Hereford and South Herefordshire 4:23 pm, 27th October 2010

The hon. Gentleman says that it is impossible to create mutuals from a transfer, but is it not the case that John Spedan Lewis created the John Lewis Partnership by transferring a business into an employee-owned trust? Is not that a great example of an existing business being transformed into a highly successful mutual, if not a co-operative?