Royal Mail — Statement

Part of the debate – in the House of Lords at 3:40 pm on 16th December 2008.

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Photo of Lord Hoyle Lord Hoyle Labour 3:40 pm, 16th December 2008

My Lords, I welcome my noble friend's Statement, particularly in relation to public ownership. When minority stakes have been taken in the past they have often led to full privatisation, but I welcome what he has said. On reflection, though, does he not feel that we liberalised far too early, far earlier than other European countries, which then became the opposition in this country? When he is considering further services, it is worth remembering that we took benefits away from the Post Office, along with the TV licence. Is it not time to think of new ways forward for the Post Office? What about a publicly owned bank, which would bring banking to the remote areas of this country?