§ Mr. Higginsasked the Postmaster-General what he now estimates the capital invested in the Post Office Giro will amount to when it is fully operational; what the annual running costs will be; how many accounts have now been opened; and what is the average amount in them.
§ Mr. StonehouseThe National Giro is fully operational; the capital invested to 31st March, 1969, was about £17 million, including about £5½ million of preliminary expenses.
Annual operating costs, including interest on capital and costs of counter and mail services, are estimated at about £18 million for the year ending 31st March, 1970. By the end of April, 1969, 109,000 accounts were opened.