Post Offices: Finance

Department for Business, Energy and Industrial Strategy written question – answered on 1st December 2020.

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Photo of Marion Fellows Marion Fellows SNP Whip, Shadow SNP Spokesperson (Disabilities)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what proportion of the £50 million announced in the 2020 Spending Review for Post Office subsidy and restructuring has been allocated for (a) subsidising and (b) restructuring the branch network.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

The Government will provide £227 million of funding through the Spending Review to the Post Office. This extends the £50 million network subsidy and provides Post Office with £177 million to invest in the future of the network.

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