Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the value of the services provided by the Post Office; and what plans they have to support its work in the future.
Previous analysis, commissioned by BEIS and undertaken by London Economics and YouGov[1], found that users of the Post Office placed a value of between £4.3bn and £9.7bn per annum on the network. The research is attached, but is also available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/566224/beis-16-37-post-office-network-social-value.pdf.
More recently, new research by Public First has revealed how much of a vital role Post Offices play in high streets, providing a boost of more than £1 billion for surrounding retailers and businesses. The research is available here: https://postofficeimpact.co.uk/
The £227 million funding the Government has provided through the Spending Review extends the network subsidy at £50 million for a further year and provides Post Office with £177 million to invest in the future of the business.
[1] The Social Value of the Post Office Network, London Economics/YouGov, 2020