§ Mr. BoswellTo ask the President of the Board of Trade if she will make a statement on the current(a) financial situation of and (b) plans for the future of Parcelforce. [43806]
§ Mr. Ian McCartneyParcelforce recorded a loss of £21m in 1996–97; the Post Office accounts for 1997–98, which will include details of the Parcelforce financial performance last year, are expected to be published next month. The second stage of our review of how best to grant the Post Office greater commercial freedom within116W the public sector is looking at a range of issues, including the future status of Parcelforce. We hope to announce our conclusions on this second stage of the review in the Autumn.
Meanwhile, the development of new twin hubs at Coventry Airport for use by Parcelforce for express and international traffic, for which planning permission has recently been received, will represent a major step forward in the modernisation of the business, and should help to secure its longer-term future.