Performance of Royal Mail
My hon. Friend hits the nail on the head. If we look at those numbers again—losses of £400 million three years ago and then £200 million, followed by a <span id="93" class="column-number" data-column-number="93"></span>£14 million profit—they show that Royal Mail is baking the fines into its operating model and cutting away more and more muscle. We have to make sure that there is a cost that is unacceptable to Royal Mail and its shareholders so that we do not see these problems again. I am conscious that many Members want to speak in the debate so I will come straight to my questions for the Minister. Please will the Minister look at what the Government can do to address Royal Mail’s new delivery model? Secondly, on the imposition of significant fines, does the Minister believe that Ofcom’s current regulatory approach is effective, and what more can be done to hold Royal Mail to account?