Good news about Post Offices at last!

November 15, 2010 10:48 PM

£1.3 billion will be made available over the next four years to maintain and modernise the Post Office network. Lib Dem Minister Vince Cable said the funding package will secure the long term future of the Post Office network and ensure that there will be no closure programme.

The package averages out at over £330m a year - more than double the subsidy paid to the Post Office for the past two years. It is good news at last for the Post Office!

Much of the previous Government's funding was spent on scaling down the Post Office network. The Lib Dem-Conservative strategy addresses the underlying economics of the network, while maintaining its size and reach. It is now up to all of us to support our local post offices, as we should support good local shops where we still have them.

"The Post Office network is a cornerstone of British life. Our £1.3 billion funding package will reverse the years of decline and secure its long-term future. It will ensure that there is no new closure programme - but it will also allow the Post Office to invest, improve its offer and win new revenue streams. It will put the network on a stronger and more sustainable footing," Dr Cable said.