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Postal Services: Wales

Business, Innovation and Skills written question – answered on 18th July 2013.

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Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change

The overarching objective of the Government's reforms of the postal sector is to secure the future of the universal postal service (the six-days-a-week delivery and collection of letters at uniform affordable prices throughout the UK). The best way to achieve this is by ensuring that Royal Mail has a sustainable future.

Our reforms so far—installing Ofcom as regulator and taking on Royal Mail's historic pension deficit—together with the efforts of employees and management to modernise the company, mean that Royal Mail is on the path to sustainability.

A sale of Royal Mail shares will allow the company future access to private capital so that it can continue to become more efficient, and can innovate and seize the opportunities presented by new markets; like the rapid growth of parcels through online shopping. It will make Royal Mail a more efficient, better capitalised, faster-moving company which is better able to adapt and meet the needs of its customers in all parts of the UK.

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