Local MP, Caroline Dinenage, has welcomed the Business Secretary's announcement of an investment of £370million for the Post Office
This will enable the Post Office to continue to invest in their network, their products and meeting the changing needs of their customers. Of that funding £210 million will be invested in continuing to modernise the network so it can continue to provide essential services and bring additional benefits to its 17 million customers across the UK, including extending opening hours and cutting queue times.
A further £160 million will help to protect 'last shop in the village' community branches and ensure everyone continues to have access to their local branch. Figures published today reveal the network has grown for the second year running, with 99.7% of people living within three miles of their local post office and number of rural branches rising to 6,185.
Commenting Caroline said:
"I am glad that we are investing into the future of the Post Office, this network is heavily relied on by many across the UK.
This funding means they can continue to offer these services to customers and ensure their branches thrive not just for today's customers but tomorrow's too."
Business Secretary Greg Clark said:
"The Post Office is at the heart of communities across the UK, with millions of customers and small businesses relying on their local branch every day to access a wide range of important services.
With the network at its most stable in decades, this £370m of government funding will ensure it can continue to modernise and bring further benefits to customers across the UK."
Paula Vennells, Chief Executive of the Post Office said:
"Making a profit for the first time in 16 years is a major milestone in the Post Office's journey to a sustainable and successful business.
We're fulfilling the promises we have made, and this is recognised by the government's further investment in the Post Office, which will enable us to continue transforming the business to meet our customers' changing needs – a transformation that has already seen us make significant progress.
We are committed to making the Post Office matter as much tomorrow as it does today. For over 370 years, the Post Office has stayed relevant to communities the length and breadth of the UK by changing and adapting. With the Post Office now trading at a profit, we are better placed than ever to embrace the future. By continuing to invest in post offices, in our digital channels, in support services and - most importantly – by putting our customers first, I am confident that the Post Office is absolutely ready to take on the opportunities and challenges ahead."
For more information please visit https://www.gov.uk/government/news/government-pledges-to-secure-the-future-of-the-post-office.