Saving the Royal Mail's universal postal service in the digital age

Saving the Royal Mail's universal postal service in the digital age

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The Coalition Government asked Richard Hooper to update the 2008 report qModernise or decline: policies to maintain the universal postal service in the United Kingdomq (Cm. 7529, 2008, ISBN 9780101752923). He finds the universal postal service still under serious threat, with most of the original causes for concern having got worse: the market and Royal Mail's market share continue to decline; the company has still not modernised sufficiently; the accounting pension deficit has grown from Ap2.9bn to Ap8.0bn; the current regulatory regime is not fit for purpose. The 2008 recommendation that private sector capital is required by Royal Mail is reiterated, for several reasons. The company is unlikely to generate sufficient cash to finance the modernisation required. Private sector capital will inject private sector disciplines and reduce the risk of political intervention in commercial decisions. And the state of the public finances means that Royal Mail will find it harder to compete for Government capital against other public spending priorities. But private capital will not be attracted without action on the pension deficit and the regulatory regime. The historic pension deficit should be taken over by the public purse. A new regulatory framework must be created that increases certainly for investors in the postal services sector in general and in Royal Mail in particular. Postcomm has recently consulted on a new framework, and this should be built upon. This update sets out the high level principles that should guide regulation, ensuring the overall burden is reduced.... Review of the UK Postal Services Sector Richard Hooper, Great BritainDepartment for Business, Innovation and Skills ... Order through the Parliamentary Hotline Lo-Call 0845 7 023474 Fax orders: 0870 600 5533 E-mail: customer.servicesanbsp;...


Title:Saving the Royal Mail's universal postal service in the digital age
Author: Richard Hooper, Great BritainDepartment for Business, Innovation and Skills
Publisher:The Stationery Office - 2010-09-10
ISBN-13:

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