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Post Offices: Bank Services

Volume 497: debated on Wednesday 14 October 2009

To ask the Minister of State, Department for Business, Innovation and Skills what assessment his Department has made of the merits of establishing a state-owned post bank based upon the Post Office network. (289712)

The idea of a state-owned Post Bank as proposed by, among others, the Post Bank Coalition, is an interesting contribution to the debate on Post Office financial services. The Government's priorities with respect to Post Office personal financial services are that the Post Office grows this important part of its business and continues to increase the range of products available across the network. This is an aim that the Business and Enterprise Select Committee report on ‘Post Offices—Securing Their Future’ supports. Post Office Ltd is working hard on this and has recently announced that it aims to launch a current account next year.