§ Mr. W. BAKERasked the Postmaster-General if he will state the profits or losses of the Post Office as a whole for each year since and including 1912–13, together with the net profit during the period; and whether all such profits went to the National Exchequer?
§ Viscount WOLMERThe profits and losses, as shown by the Commercial Accounts of the Post Office, after providing for depreciation and interest on capital, were as follow:
Profit. £ 1912–13 … … … 4,681,321 1913–14 … … … 5,200,132 1914–15 … … … 3,544,254 1915–16 … … … 5,366,424 1916–17 … … … 6,191,501 1917–18 … … … 6,647,423 1918–19 … … … 7,447,556 Loss. 1919–20 … … … 1,128,065 1920–21 … … … 6,736,511 1921–22 … … … 1,260,752 Profit (Approximate). 1922–23 … … … 4,450,245 1923–24 … … … 5,291,022 1924–25 … … … 5,294,000 All profits of the Post Office accrue to the Exchequer, which also boars the losses.