Michael Fallon: Royal Mail must face the future

The government has given formal notice to the stock exchange of its plans to privatise the Royal Mail "in the coming weeks".

It has not decided exactly how much of the service it will sell, but has said it will be the majority.

Michael Fallon, Minister for Business and Enterprise, explained the proposals to Today programme presenter Sarah Montague.

"The business has been turned round in the last couple of years, it's now profitable, but it needs to face the future," he said.

"This doesn't mean any threat to the Post Office, that is being protected and will not be privatised."

First broadcast on the Today programme on Thursday 12 September.