“A single purpose company with no shareholders and that is run solely for the benefit of customers”. This to me sounds exactly like what a privatised Royal Mail should be. The sentence is taken from the website of Glas Cymru/ Welsh Water and describes how they have operated since 2000. I have already suggested to Vince Cable when questioning him in the Commons that this be the kind of business model taken on by Royal Mail. It is perfectly compatible with the Tory-Lib Dem Postal Services Act and successfully combines social obligations and commercial imperatives. There is nothing that I can see in the legislation that would prevent it from establishing an alternative company structure such as a Company Limited by Guarantee that was used by Network Rail and Welsh Water.