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Article: Mandelson gives pounds 1bn package to Post Office.
- Article from:
- The Birmingham Post (England)
- Article date:
- December 8, 1998
CopyrightCOPYRIGHT 1998 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Post Office will have an extra pounds 1billion to invest over the next five years after the Government unveiled radical reforms to give the service more commercial freedom.
Trade and Industry Secretary Mr Peter Mandelson ruled out privatisation but offered the Post Office a fresh start by loosening its financial ties with the Government.
The immediate effect will be a reduction in the amount of money the Post Office gives to the Treasury for the ...