To ask the Secretary of State for Business and Trade, what steps she is taking to improve the profitability of the Post Office.

The Government is clear that the Post Office should be a valuable social and economic asset for communities and businesses for years to come. To ensure the Post Office is fit for the future, the Government is engaging with stakeholders regarding the challenges facing the post office network and postmasters, resulting from the changing retail landscape and increased costs. ​

We have provided over £2.5 billion in funding to support the Post Office network over the past decade and is providing a further £588 million for the Post Office between 2022 and 2025. This includes a £50 million annual subsidy to safeguard services in the uncommercial parts of the network.

The Government also recognises that there are concerns about central costs, and we have been clear that Post Office must do more to cut central costs where possible.

The Post Office network is a crucial component of the UK's long-term provision of cash and banking services. That is why we have encouraged Post Office to be ambitious in their negotiations with banks for the next iteration of the Banking Framework agreement to ensure that both Post Office and Postmasters receive proportionate remuneration for the vital services they are providing.