Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what funding from the public purse will be provided to Post Office Ltd in the next three years; and if he will make a statement.

Draft Answer

Between 2010 and 2018 the Government provided nearly £2 billion to maintain and invest in our national network. This led to the most stable Post Office network in a generation, with 93% of the population living within 1 mile and over 99% within three miles of their nearest branch.

The funding was split into investment funding to support the modernisation of the network and the business and subsidy payment to sustain those branches that are not sustainable on a commercial basis. Government investment has also enabled the modernisation of over 7,500 branches, added more than 200,000 opening hours per week and established the Post Office as the largest network trading on Sunday.

The current Funding Agreement between BEIS and Post Office Limited runs until the end of March 2021. The funding provided by Government over FY 2019/20 & 2020/21 is as per below: