§ Mr. CousinsTo ask the President of the Board of Trade what was the return on capital employed in the Post Office in 1992–93; and what is that projected for 1993–94.
§ Mr. McLoughlin[holding answer 3 November 1993]: The financial targets set for Royal Mail and Post Office Counters are to achieve respectively an annual average return on capital employed of 16 per cent. and 9.3 per cent. over the three years 1992–93 to 1994–95. In 1992–93 the actual returns on capital employed achieved by Royal Mail and Post Office Counters were respectively 16.3 per cent. and 9.6 per cent.
Parcelforce was set the financial target of achieving at least break-even in 1992–93 and 1993–94. In 1992–93, Parcelforce incurred a small loss, giving a negative return on capital employed of –5.7 per cent.
§ Mr. CousinsTo ask the President of the Board of Trade what was(a) the planned and (b) the outturn expenditure on capital investment in the Post Office in 1992–93; what was the planned capital investment in 1993–94 in last year's autumn statement; what is that currently planned; and if he will express the figures for 1993–94 both in cash and on a common price base with 1992–93.
§ Mr. McLoughlin[holding answer 3 November 1993]: Planned capital expenditure by the Post Office in 1992–93 was £344 million; outturn expenditure was £343 million. The Post Office's capital expenditure limit for 1993–94 set in last year's autumn statement was £321 million and remains at that figure; in 1992–93 prices this equates to £312 million.
§ Mr. CousinsTo ask the President of the Board of Trade what are the external financing limit targets for the Post Office for 1992–93 and 1993–94 in cash and standard price terms.
§ Mr. McLoughlin[holding answer 3 November 1993]: The EFL targets set for the Post Office for 1992–93 and 1993–94 are as follows:
£ million Cash 1992–93 prices 1992–93 1-66 -66 1993–94 -181 -176 1 The EFL outturn for 1991–93 was —00A3;80 million
§ Mr. CousinsTo ask the President of the Board of Trade what was the direct actual and whole-time equivalent employment in the Post Office and each of its subsidiaries as at 1 April 1992, 1 October 1992, 1 April 1993 and 1 October 1993.
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§ Mr. McLoughlin[holding answer 3 November 1993]: The direct actual and whole-time equivalent employment in the Post Office and each of its subsidiaries as at 1 April 1992, 1 October 1992, 1 April 1993 and 1 October 1993 were as follows:
Post Office Post Office Counters Ltd SSL Ltd Total Post Office group Direct Actual 1 April 1992 191,800 16,900 1,400 210,100 1 October 1992 189,100 16,800 1,400 207,300 1 April 1993 184,600 16,400 1,400 202,400 1 October 1993 183,900 15,100 1,300 200,300 Wholetime equivalent 1 April 1992 181,700 15,400 1,400 198,500 1 October 1992 178,900 15,100 1,400 195,400 1 April 1993 174,300 14,700 1,400 190,300 1 October 1993 173,100 13,400 1,300 187,800 Note: The above figures are to the nearest hundred. Direct actual employment represents all full-time staff plus part-time staff counted as 1; whole-time equivalent employment represents all full-time staff plus part-time staff counted as ½.
Name Position Date Appointed Other Directorships Mr. K. F. Whittle CBE Chairman 30 June 19931 Chairman BEAB Mr. J. Pearcy Financial 30 June 19931 Director BEAB Mr. G. D. Clarke Managing Director and Secretary 1 January 1987 Director, Surrey TEC Mr. J. F. Barrett Director 24 November 1992 Director, Digital Equipment UK Mr. R. P. Boardman Director 30 June 19931 Mr. K. E. Clarke Director 7 August 1992 Director, BT (CPB) Ltd. Mr. D. G. Hyde Director 11 October 1990 Oftel, (Nominated by Secretary of State) Mr. H. Peltor CBE Director 17 January 1991 Director, BREMA, Director, BEAB Mr. N. A. Perrin Director 1 January 1988 Director, EEA Dr. D. A. Leakey Director 1 June 1989 Dr. A. O'Dochartaigh Director 17 January 1991 Director of Communication-Bass plc 1 Date of re-election