Green investment bank a 'missed opportunity' for Post Office

24 May 2011

Responding to plans announced by Vince Cable today (Tuesday) to establish a green investment bank, the Communication Workers Union expresses disappointment at another missed opportunity to set up a post bank.

Billy Hayes,CWU general secretary, said: "This is another wasted opportunity to bolster the Post Office. The Liberal Democrats promised a post bank in their manifesto but have so far only taken work away from the Post Office and threatened its survival.

"A Post Bank could effectively operate as a green investment bank while atthe same time bringing trusted and accessible banking to communities across the UK along with vital revenue to the Post Office. Communities, small businesses andthe financially excluded would benefit from this move, not just select,although worthy, projects.

"While we welcome the work a green investment bank can bring, we are bitterly disappointed that the government has overlooked a golden opportunity to bring work to the Post Office."

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