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Article: A pounds 400m kick at the Post Office
- Article from:
- The Independent (London, England)
- Article date:
- December 1, 1995
CopyrightCopyright 1995 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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A pounds 400m kick at the Post Office
If ever there were an argument in favour of privatisation, it is
the cynical way ministers bleed the corporate entities they control
in an effort to balance the Government's books. The latest victim
is the Post Office, which will have nearly pounds 400m whisked away
from it in the three financial years from 1996-97.
That is the extra amount of cash the Post Office has been told
to pay to the Department of Trade and Industry from its profits,
above and beyond the levels it thought had been agreed a year ago.
There is no doubt about the figures. The pounds 260m extra required
in the first two years of the three- year period is printed in