» Thursday, May 18, 2006

Royal Mail

Asked for an explanation for the Government giving £1.75bn to Royal Mail on the day Royal Mail had announced profits of £355m, the PMOS said that the money was allowing Royal to transfer reserves which already existed, so this was not new Government money as such. Furthermore it was an investment on which the Government would receive money back in the future. So it was a sensible way to allow Royal Mail to invest in the future, something which was in the public interest. Asked if the Government would make a profit out of this, the PMOS said that it would, as Royal Mail had said this morning.

Briefing took place at 8:00 | Search for related news

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