Media playback is unsupported on your device

Vince Cable sets out Royal Mail flotation plans

10 July 2013 Last updated at 13:20 BST

Business Secretary Vince Cable has made a statement in the House of Commons regarding the government's plans to float shares in Royal Mail on the stock market.

Under the proposals, 10% of the shares would be given to employees, a move the government says will create the largest employee share scheme in 30 years.

Mr Cable said Royal Mail would remain the UK's universal postal service provider, and that the Post Office would remain a publically owned institution.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.