§ Mr. Cartwrightasked the Secretary of State for Industry whether it is still his policy that the Post Office, in developing the National Giro, should provide a wide range of banking services in addition to a giro payment system; and if he will make a statement.
§ Mr. Michael MarshallThe Post Office is responsible for the management and development policy of the National Giro-bank, although the Government expect Girobank to compete on equal terms with other financial institutions providing similar services. I have been advised by the Post Office that its policy is to develop National Girobank so as to achieve growth compatible with financial targets agreed with the Government, and to provide a nationwide banking service to corporate and personal customers using Post Offices as branch outlets. This policy would include continued development and extension of the range of banking facilities in response to customer demand.