£1.3 BN INCREASE IN POST OFFICE FUNDING
October 27, 2010 6:00 PM
In Lib Dem News
In Lib Dem News
£1.3 BN INCREASE IN POST OFFICE FUNDING
The Post Office will receive £1.3 billion of extra funding over the next four years, Business Secretary Vince Cable announced today.
Vince told the Commons the funding would be used to reform the network and secure its long term future, reversing years of decline. Outlining the boost during second reading of the Postal Services Bill, which sets out plans to privatise Royal Mail, Mr Cable told MPs: "I can announce today £1.34 billion of new funding for the Post Office over the spending review period.
"The funding will be used to reform the current network, to change the underlying economics and so reverse the years of decline and secure its long-term future."
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