Post Office could hand ownership to employees amid review into its future
It marks the first comprehensive review of the postal service in 15 years, giving customers and postmasters the opportunity to have a say in how it is run, according to the DBT.
This includes the Post Office's ownership model, as the Government considers mutualisation, which could mean handing ownership of the company to thousands of its subpostmasters.
Furthermore, ministers announced plans to award a new subsidy package worth £118 million to fund a transformation plan and further investment that could improve its services.
Post Office minister Gareth Thomas said: 'Post Offices continue to be a central part of our high streets and communities across the country.
'However, after 15 years without a proper review, and in the aftermath of the Horizon scandal, it's clear we need a fresh vision for its future.
'This Green Paper marks the start of an honest conversation about what people want and need from their Post Office in the years ahead.'
Neil Brocklehurst, Post Office's chief executive, said: 'We now have a once-in-a-decade opportunity to have a national conversation about the future of our post offices and their role in supporting communities across the UK.
'This Government consultation is a vital part of shaping what the future of Post Office could, and should, look like.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
13 minutes ago
- Daily Mail
JEFF PRESTRIDGE: How to stop millions of pensioners getting taxed on their state pensions
Many pensioners feel victimised by Labour – and understandably so. Deprived last year of their universal right to winter fuel payment, they continue to be hit by a toxic mix of rising household bills and higher taxes on their income and savings. Yet they refuse to lie down without an almighty fight. Buoyed by the Government's partial U-turn on winter fuel payment, they have now set their sights on getting Chancellor Rachel Reeves to lift the freeze on the personal allowance, which has been stuck at £12,570 since 2021 – and is currently set to remain at this level until at least 2028.
Daily Mail
13 minutes ago
- Daily Mail
Business chiefs fear ID chaos under new rules to force company directors to verify their identities
Company directors will have to verify their identities under rules to be imposed from November. The Government confirmed the roll-out date yesterday despite fears that the imminent shake-up of Companies House will spark chaos among businesses. The Mail on Sunday has revealed that only 300,000 have done the checks since an online portal opened for voluntary registrations in April this year. From November 18, new directors must verify their identity to incorporate a company or be appointed to a registered business. The crackdown, which is designed to tackle fraud and money laundering, has already caused confusion. Some business owners who have completed the checks told The Mail on Sunday that it was a cumbersome and time-consuming process.
Scottish Sun
43 minutes ago
- Scottish Sun
Maker of Gordon's and Guinness ramps up cost-cutting after year of plunging profits
Scroll down to find out how much experts think the minimum wage must increase by GORDON BLANKS Maker of Gordon's and Guinness ramps up cost-cutting after year of plunging profits GORDON'S and Guinness maker Diageo is ramping up cost-cutting after a tough year of plunging profits. The UK-based FTSE 100 firm, which also owns brands including Johnnie Walker whisky, said operating profits had fallen by 27.8 per cent to £3.3billion in the year to June 30. Advertisement 1 Gordon's and Guinness maker Diageo is ramping up cost-cutting after a tough year of plunging profits Credit: Getty In response, the spirits giant plans to cut costs by £625million over three years, increasing its original target of £500million. Nik Jhangiani, interim boss of the firm, said the savings plan is 'not about job cuts' but added 'there will be some' as a result. He stressed that the group could still increase its overall workforce. Diageo said it expects to secure savings over three years from advertising and promotion efficiencies, reduced overheads and supply chain improvements. Advertisement The increased savings plans come amid a period of upheaval after the departure of its boss last month. Debra Crew stepped down with 'immediate effect' and by 'mutual agreement', after a recent decline in Diageo's share value. Tariffs, cautious consumer demand and increased cost pressures have weighed down businesses across the drinks industry. The global company's net sales dipped 0.1 per cent last year, mainly due to currency issues and changes to its brand portfolio. Advertisement But sales were up by 6.7 per cent in Britain thanks to a strong demand for Guinness. Dua Lipa downs pint of Guinness as she celebrates five-night sold-out stadium gigs LOW PAY CALL THE minimum wage will need to rise by 4.1 per cent next year from £12.21 to £12.71 an hour, says the Low Pay Commission. The wage has surged in recent years, with 6.5 per cent of workers relying on it. The Government is also reviewing minimum wage age bands, aiming to reduce the gap for younger workers. Advertisement The commission will provide its recommendations in October, with new rates set to apply from April. LOANS ALARM MILLIONS of us are spending thousands more on loans due to poor credit scores, say financial experts Totallymoney. A £5,000 loan over three years could cost £6,678 extra in interest, while a £10,000 loan could cost an extra £13,541. Only one in four have checked their credit report in recent years. Advertisement Alastair Douglas at TotallyMoney said: 'Check your report every six months for errors that hurt your score.' CAR SALES' ELECTRIC PLUG NEW car sales fell five per cent in July to 140,154 as drivers waited for Government EV grants. Electric cars accounted for 21.3 per cent of sales, says the Society of Motor Manufacturers & Traders, with discounts of £1,500 to £3,750 now available on Citroën models. Meanwhile, RAC data found UK cars are getting older. A typical motor is now nine years and ten months, and 41 per cent are more than a decade old. Advertisement Experts say this is slowing the move to greener electric cars.
