§ Mr. Nicholas Wintertonasked the Secretary of State for Industry what consideration he has given to the privatisation of the National Girobank; and if he is satisfied with its current operation.
§ Mr. WakehamThe National Girobank has proved successful in more than meeting its financial target in 1979–80 and 1980–81, and remaining within its external financing limit. I expect it to do so in 1981–82, and to continue to provide a welcome element of competition in the banking sector.
In accordance with the Government's overall policy to reduce the size and scope of the public sector the position of the National Girobank is being kept under review. But before going ahead with any scheme I would need to be satisfied that competition would not be diminished, and that the interests of the sub-postmasters were adequately protected.