Question

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of post offices on financial inclusion and the social value of maintaining the network.

Post offices play an important role in communities across the UK, acting as a community hub and making sure people have access to important services.

The role of post offices in ensuring financial inclusion is becoming increasingly important. Post office operates 2,500 free-to-use ATMs across the UK and approximately 95% current accounts are accessible across post office counters in over 11500 branches across the UK. Post office is also increasing the range of financial services it offers to customers directly.

I believe post offices have a key role to play in ensuring financial inclusion and their contribution in this area enhances the social value of the post office network itself. That is why Government has provided nearly £2 billion since 2010 to maintain, modernise and protect the network.