Post Office: Finance
(asked on 3rd June 2019) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding from the public purse has been provided to Post Office Ltd in each of the last five years.
Government subsidy ensures that branches serving our rural communities that need additional support receive it so that they can stay open.
Government subsidy has been declining in recent years; this reflects the progress that the business has made. Post Office Limited returned to profit after 16 years of losses and has thereby reduced its reliance on the taxpayer.
The Government has provided the following funding to the Post Office over the last five years:
Year | Network Subsidy Payment (£ million) | Investment funding (£ million) |
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2014/15 | 160 | 170 |
2015/16 | 130 | 150 |
2016/17 | 80 | 140 |
2017/18 | 70 | 70 |
2018/19 | 60 | 168 |
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