Post Office Finance

HC Deb 19 February 1975 vol 886 c426W

Mr. Tom King

asked the Secretary of State for Industry (1) how much of the expected £300 million Post Office loss for 1974–75 is accounted for by the Giro operations;

(2) how much of the expected £300 million Post Office loss for 1974–75 is accounted for by telephone and telecommunications services;

(3) how much of the expected £300 million Post Office loss for 1974–75 is accounted for by the postal services.

Mr. Gregor Mackenzie

The estimated deficits for each business are:

	£m
telecommunications	176
posts	124
GIRO	4

Mr. Tom King

asked the Secretary of State for Industry how much of the expected £300 million Post Office loss for 1974–75 is accounted for by the deficiency payment to the Post Office Pension Fund.

Mr. Gregor Mackenzie

The Post Office estimates that the payment will be £100 million.