§ Mr. Stodartasked the Postmaster-General what has been the cost of introducing the Giro system to date; and what he estimates the expenditure on it will be in 1969 and 1970, respectively.
§ Mr. StonehouseThe cost of planning and setting up the Giro service is being charged to capital on which the National Giro will pay an annual interest charge. When the service opened on 18th October, £12 million had been spent for this purpose. By March, 1969 capital costs 545W will total some £15½ million. Annual operating costs, which include the interest charge on capital, are estimated at £20 million for the financial year ending March, 1970 rising to £24½ million in the following year.