Royal Mail 'burdened by over regulation' (UK)

Speaking on Jeff Randall Live, Adam Crozier said he would welcome tougher competition, but he called for less control – saying the current system is untenable.

He added: “The way the market is regulated has to change. The way the market is being regulated is not benefiting customers.”

Talking about the challenges facing the Royal Mail, he said: “We still face some huge risks.

“We have a declining market because people change the way they communicate and we have a huge pension deficit.”

Earlier this year an independent review into Royal Mail described its business model as unsustainable.

Adam Crozier maintained his commitment to running a commercial business with a social heart.

He said the universal service – the one price goes anywhere service – remained a key part of the Royal Mail.

“It remains the backbone of all the economic and social cohesion of the country. If that doesn’t work the whole thing falls about,” he stressed.

But he warned that the universal service was losing money and the current regulation system was not working and had to be changed.

There could also be more job cuts for Royal Mail staff.

In the last few years, 50,000 staff have been laid off and Crozier said there would be more substantial cuts as machines replace people.

“It’s all designed to improve the quality of service for our customers – both social and business.”

Speaking on Jeff Randall Live, Adam Crozier said he would welcome tougher competition, but he called for less controls – saying the current system is untenable.

He added: “The way the market is regulated has to change. The way the market is being regulated is not benefiting customers.”

Talking about the challenges facing the Royal Mail, he said: “We still face some huge risks.

“We have a declining market because people change the way they communicate and we have a huge pension deficit.”

Earlier this year an independent review into Royal Mail described its business model as unsustainable.

Adam Crozier maintained his commitment to running a commercial business with a social heart.

He said the universal service – the one price goes anywhere service – remained a key part of the Royal Mail.

“It remains the backbone of all the economic and social cohesion of the country. If that doesn’t work the whole thing falls about,” he stressed.

But he warned that the universal service was losing money and the current regulation system was not working and had to be changed.

There could also be more job cuts for Royal Mail staff.

In the last few years, 50,000 staff have been laid off and Crozier said there would be more substantial cuts as machines replace people.

“It’s all designed to improve the quality of service for our customers – both social and business.”