UK Post Office wins EU okay for 640 million pound state aid

[TrueBlueTerrier]

http://uk.reuters.com/article/2015/03/1 ... 3Z20150319" onclick="window.open(this.href);return false;

European Union regulators approved on Thursday a British proposal to grant 640 million pounds in aid to the UK Post Office ltd over the next three years for providing a wide range of public services across the whole of Britain.

The European Commission said the state support was in line with EU state aid rules. In addition to its postal services, the UK Post Office also handles social security payments, passport and car license application and public utility payment facilities.

The Commission said that the post office has and will continue to have the public service mission to carry out and maintain a set of public services over a larger network of post offices than would be commercially optimal.

"Today's decision will make sure that those UK citizens who live in more remote areas will also have access to a post office and the services it provides," European Competition Commissioner Margrethe Vestager said in a statement.

[Cyclopz]

Funny how it was the EU that imposed the deregulation of the postal sector and now they are bailing us out.

An admittance that their plan has ruined a once great service perhaps?

Something doesn't seem right here, I smell a rat.

Now that they control the purse strings with bailouts they obviously contol the postal sector more than before.
All in their plan perhaps or just total mismanagement by too much interference from Brussles, who can say?

[subbie]

Its the UK's money not the EU, they just give us permission to spend it.

The real story here is that the PO were given £1.34billion 5 years ago and promised that they would only require about £30 million a year in future once they had modernised themselves and weaned themselves off of subsidy.

Well the £1.34 billion is all gone and here we have the PO asking for another £640m so what happened to modernisation and where the hell did all that money go?

Subbie

[fishtank]

where the hell did all that money go?

Subbie

Maybe they used Horizon.