Financial Objectives

HC Deb 03 November 1967 vol 753 c23W

Mr. Woof

asked the Postmaster-General what financial objectives will apply to the Post Office after the existing target period ends in March, 1968.

Mr. Joseph Slater

From 1st April, 1968 the present target for the whole Post Office, of a net return of 8 per cent. on net assets, will be replaced by separate targets. The objectives, to be achieved on average over the succeeding five years, will be:

Postal services—A margin of 2 per cent. on expenditure.

Telecommunications services—A net return of 8½ per cent. on net assets.