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Post Office Consultation Should be Greater

The Communication Workers Union today (Wednesday) welcomes the announcement of the government consultation on financial products and services for the Post Office, but warns of its limitation and urges government not let this be a wasted opportunity.

Billy Hayes, CWU general secretary, said: "The government needs to move quickly on this important and popular move to get financial services where people can access and trust them - the Post Office.

"We're concerned that the consultation provides little vision to truly expand the financial services offered through the post office network, by being silent in regard to creating a Post Bank which will ensure all its profits will be used to maintain a viable post office network.

"Much of what is in the consultation already exists or is in the pipeline, for example the current account and children's account. While we welcome strengthening access to credit unions and business accounts, there is no indication of how this will link to the sustainability of the post office network.

"We want to see a directly-owned Post Bank which delivers trusted government-backed financial services through the Post Office. The third-party model currently pursued does not return sufficient profits to the Post Office, is not a different choice to high-street banks and will not do enough for the financially excluded."

CWU represents workers in the Post Office and Royal Mail group and is part of the Post Bank Coalition.

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For more information please contact:

Sian Jones, Press Officer, Tel:020 8971 7267, Mobile: 0779 3314249, E-mail: sbjones@cwu.org

Kevin Slocombe, Head of Communications, Mobile:07714504413, E-mail: kslocombe@cwu.org

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