HC Deb 16 July 1997 vol 298 c229W
Mr. Fallon

To ask the President of the Board of Trade if she will set out the Post Office's external financing limit for 1997–98 together with (i) the returns on capital employed by Royal Mail and Parcelforce, (ii) the returns on finance for Post Office Counters and (iii) the real unit cost reductions for Royal Mail. [8769]

Mr. Ian McCartney

The 1997–98 external financing limit for the Post Office is minus £313 million; the 1997–98 return on capital employed targets for Royal Mail and Parcelforce are respectively 20 per cent. and 3.5 per cent.; the 1997–98 return on turnover target for Post Office Counters Ltd. is 2.5 per cent. and the real unit cost reduction target for Royal Mail is a 6.2 per cent. reduction by 1998–99 over 1995–96. These targets are, however, under review.