§ Major COLFOXasked the Postmaster-General whether in calculating the profit made by the Post Office, any account is taken of the value of stamps sold by the Post Office but used for receipts and other revenue purposes for which the Post Office performs no service; Whether he can give an estimate of the value of the stamps so used; and if this value is greater or less than the total profit made by the Post Office?
§ Viscount WOLMERYes, Sir. As shown on page 17 of the Post Office Commercial Accounts for the year ended 31st March, 1928, the gross income of the Postal Service was reduced by £2,022,448 in respect of stamps sold for Inland Revenue purposes, before arriving at the net operating profit of £8,802,986 on this service.