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Mr. Heseltine
asked the Secretary of State for Industry what is his latest estimate of the profit or loss of the Post Office for the current year.
Mr. Gregor Mackenzie
The forceast underlying my right hon. Friend's Budget speech was a deficit of £70 million at current prices. But the Chairman of the Post Office informed me last week that this figure is now likely to be higher and I have asked him for further information. I shall, of course, keep the House informed.