§ Mr. Goldingasked the Minister of Posts and Telecommunications what target percentage return on capital or turnover has been set for posts and telecommunications, respectively, in 1971; and how these targets were calculated.
§ Mr. ChatawayThe current objectives of 2 per cent. on total expenditure and 10 per cent. on net assets for posts and304W telecommunications respectively were fixed originally by the last Government in agreement with the Post Office. Within general guidelines laid down by successive Governments, financial objectives are chosen to reflect the circumstances, needs and capabilities of the industries concerned.