§ 84. Mr. Winterbottomasked the Postmaster-General what additional financial burdens were placed on Post Office revenues by additional contributions to the Treasury, on account of the liability for pensions and additional liability for depreciation, in each of the last five years.
Dr. HillI assume that the hon. Member wishes to know what provisions have been made in the Post Office Commercial Accounts—
- (a) in respect of deficiencies in previous provisions for pension liability, due to such factors as increased rates of pay;
- (b) by way of supplementary depreciation, because of rising replacement costs.
The figures are as follows:
I would point out that these are not to be regarded as contributions to the Treasury, but represent proper expenses of the Post Office in accordance with commercial practice.
Year Pension Liability Depreciation £m. £m. 1951–52 3.8 1.0 1952–53 3.8 1.0 1953–54 6.8 1.5 1954–55 6.8 1.0 1955–56(estimated) 6.8 1.5