HC Deb 18 November 1985 vol 87 c20W
Dr. McDonald

asked the Secretary of State for Trade and Industry if he will make a statement on the reasons for and the implications of the decision to turn Girobank into a public limited company, as a wholly-owned subsidiary of the Post Office, on 3 October.

Mr. Butcher:

The transfer of the Post Office's banking business to a subsidiary company, Girobank plc, was the logical culmination of the policy of creating smaller, fully accountable units within nationalised industries in the interests of maximum efficiency. The Post Office has said that the bank's relations with its customers will not be affected in any way.