§ Lord Gallacherasked Her Majesty's Government:
Whether they are planning to respond to the suggestion in the annual report of the Post Office Users' National Council for 1988/89 that over £500 million compulsorily accumulated in the Post Office accounts and invested in public debt could be released to overcome the effects of past low investment without any significant changes in tariffs and with no effect on the cost of living index.
§ The Secretary of State for Trade and Industry (Lord Young of Graffham)As the Post Office Users' National Council is aware, the Government have in recent years largely accepted the increasing programmes of capital investment proposed by the Post Office. Funds surplus to the Post Office's agreed requirements have been invested in other parts of the public sector, to the benefit of the taxpayer.