§ Mr. DavidsonTo ask the Chancellor of the Exchequer (1) what is the process by which consultants will be selected (1) to conduct the proposed feasibility study into whether Post Office Counters should take over the National Savings bank's ordinary current account; and if he will make a statement; [33679]
(2) what legislation would be required to transfer the administration of National Savings bank's ordinary current account to the Post Office; and if he will make a statement; [33645]
(3) what is the time scale for the proposed feasibility study into the possibility of the National Savings bank transferring the administration of ordinary current accounts to Post Office Counters; when it is envisaged that this feasibility study will formally begin; and when he expects it to be (a) completed and (b) presented to ministers; [33646]
(4) how much money has been budgeted to cover the costs of the feasibility study into the possibility of national Savings bank transferring the administration of ordinary current accounts to Post Office Counters; [33647]
(5) what stage has been reached in the current feasibility study into the possibility of the national Savings bank transferring the administration of ordinary current accounts to Post Office Counters; and if he will make a statement. [33648]
(6) if he will make it his policy to establish a joint department of National Savings bank/Post Office Counters Ltd. team to supervise or assist external consultants examining the possible transfer of the ordinary current account from the National Savings bank to Post Office Counters Ltd. [33680]
§ Mrs. Angela KnightThe feasibility study is looking at whether Post Office Counters Ltd., POCL, should market its own savings account. That part covering the options involving the National Savings, NS, ordinary account will be led by a joint POCL/NS team. The feasibility study has commenced and is expected to be completed towards the end of the year. Consultants to assist in the study will be appointed by competitive tender. POCL and NS are presently finalising the detailed terms of reference for consultants.
The results will be considered by the boards of both organisations before recommendations are submitted to Ministers. The costs of the study will be met from within each organisation's current budget.