It gives none us any great pleasure to say that some of the developments that have occurred in this country during the past ten or 15 years were not ones for which one would be awarded a Nobel prize or the Pulitzer prize. Many things happened under the cover of various regulatory systems that were appalling and that led this country into a ferociously vulnerable situation. The regulatory and supervisory system in so far as it affects the postal services, as they are now and as they are likely to be provided or as aspects of the service will need to be replaced in the future, is hugely important.

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