§ 73. Mr. HARMSWORTHasked the Postmaster-General what is the administrative cost per transaction to the Post Office Savings Bank; and what is the percentage of the salaries of the personnel, rent, and upkeep of the Post Office buildings that are calculated in this figure?
§ The ASSISTANT POSTMASTER-GENERAL (Viscount Wolmer)The estimated cost per transaction for the year 1925 is 8.87d. The approximate percentage division of the cost is:
Salaries, including superannuation 89.00 Upkeep of buildings, including proportion of rent of Post Offices 389.21 Postage, stationery and miscellaneous 789.79
§ Mr. HARMSWORTHMay I ask whether these figures compare favourably with the banks in cost per transaction, in view of the fact that the banks have to pay for upkeep of the entire buildings, whereas the Post Office Savings Bank only pay a percentage of the cost of the staff and buildings?
§ Viscount WOLMERIf my hon. Friend will supply me with information, I will be glad to look into it.
§ Sir F. WISEMay I ask whether the cost is coming down?
§ Viscount WOLMERWe are doing our best to make it come down.
§ 74. Mr. HARMSWORTHasked the Postmaster-General what is the total amount deposited in the Post Office Savings Bank; what is the total cost of administering it; how much is the gross profit to the Post Office before deducting any expenses; and how much is the net profit after the deduction of all expenses?
§ Viscount WOLMERThe last year for which proved figures are available is the year ended the 31st December, 1924. The balance due to depositors at the close of that year was £280,373,433 and the surplus of income over interest paid and credited to depositors for the year was £4,567,022. The working costs incurred amounted to £1,408,365, leaving a net profit of £3,158,657.
§ Mr. HARMSWORTHDoes the right hon. Gentleman not consider that nearly £1,500,000 is a very costly business, and is he making efforts' for economy in this direction?
§ Viscount WOLMERThe Government are always making efforts for economy.