BANK GUARANTEE FOR THE POST OFFICE CARD ACCOUNT

That this House recognises the importance of the Post Office Card Account (POCA) to the survival of the Post Office network; expresses concern at the 2,500 post offices that were marked for closure and the potential further closure of over 3,000 post offices due to the loss of local services; further recognises that the Government is in the position to give the taxpayer something back for their money by guaranteeing the POCA remains with Post Office Ltd; and calls on the Treasury to instruct one of the newly taken over banks to run the Post Office Card Account in partnership with the Post Office Ltd, which would ensure the survival of its network of 14,500 branches.