Posted on April 1, 2009 - by AbsurdEU
EU law could force 3,000 more post office to close
The Post Office spent £1 billion on setting up payments for pensions and other benefits which provide sub-postmasters with 12% of their income. Under EU law, this service must now be put out to tender, and the likelihood of losing the contract will mean the closure of another 3,000 branches in 2010.
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There are more things that the Post Office network could do to secure its position. With bank branches closing in many villages across the country, it could fill the gap by processing pay-ins etc on behalf of these banks (as it already does for Alliance & Leicester and online banks). Why not use the network of post offices to centrally collect parcels from private customers on behalf of the big courier companies (FedEx, DHL etc.) It needs a bit of imagination but the post office network can be built up and secured in other ways.