The SubPostmaster Magazine

per year in state funding and also
the recent announcement of the
business agreement between
PayPoint and Royal Mail, it suggests
now is most definitely not the time
for mutualisation.
However, improving the
governance of PO via an Oversight
Committee is a possibility within the
current conditions. Importantly, an
Oversight Committee is a common
corporate governance structure
within Europe and would enable
constructive challenge to the
strategy of PO and enable the
network to work with government
and PO to secure our collective
future.
It would enhance the role of
government as sole shareholder and
importantly enable a diverse group
of people to work together for the
needs of the whole business prior to
mutualisation when the timing is
right. It would ensure the
government has the power to
improve the culture at PO and
rebuild trust in PO as a company
and work with PO so that it can
achieve the goals of its long-term
strategy.
Importantly, an Oversight
Committee would ensure that the
long-term strategy of the Post Office
does not benefit a few, rather that
long-term strategy would focus on
PO’s unique social purpose for the
benefit of the communities we serve
and the business as a whole.
Since the turn of the year, the
NFSP has been holding meetings
across our Branch and Regional
network highlighting this plan and
we will continue to do so as we very
much want your input.
On these pages is a draft of what
the Oversight Committee could look
like and where it would sit within the
governance structure.