Don't cry for Gordon Brown - smile for the Post Bank

Shed a tear for the Post Office not Gordon Brown. Having already used up his rhetoric on moral compasses and times for change, the hard-put-upon Prime Minister turned his attention to mending Broken Britain at the recent Labour Party Conference. His latest list of sound bites includes a bid to save the beleaguered post office network with a Post Bank. Apparently, it will be a community-based service that will focus on helping the most vulnerable in society who do not currently have a bank account or cannot get to a local branch. Sound familiar? The idea was first mooted – and put into action – more than four decades ago when the Girobank Account was introduced by Tony Benn in 1968. During the seventies it even started making money for the taxpayer and became the sixth-biggest bank in Britain until being sold off to Alliance &... [read full story]                    

powered by