HC Deb 29 July 1998 vol 317 c358W
Mr. Hoyle

To ask the President of the Board of Trade what action she will take to increase investment in the Post Office. [52094]

Mr. Mandelson

Individual decisions in investment within the Post Office are for the Post Office Board within the overall framework of financial targets set by Government. We plan to give the Post Office greater commercial freedom so that it can meet the challenges of domestic and international markets. The second phase of the Post Office Review, which my predecessor announced on 6 April 1998,Official Report, column 63, will be making recommendations on the Post Office's future structure, organisation, and financing that will best deliver greater commercial freedom for the Post Office within the public sector. In the meantime, my right hon. Friend the Member for Derby, South (Mrs. Beckett) announced, with immediate effect, limited freedoms for the Post Office to enter into joint ventures in the domestic market in a similar way to those they have in the international market. Further details are set out in the Government's observations to the Trade and Industry Select Committee on the third report of the 1997/98 session on the Post Office, which was published by the Committee on 14 April.