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Business Secretary Peter Mandelson said:

"The Post Office is a trusted and familiar brand for those using the Post Office Card Account and today's decision helps secure its future. Now the challenge will be for the Post Office to broaden its offer to loyal customers and to bring in new ones to help get it on to a stable financial footing. There is the potential to leverage its brand to help it expand further into areas like financial services, particularly in the current financial climate, where people value trust and certainty more than ever."

Minister for Postal Affairs, Pat McFadden, said:

"This announcement is great news for the Post Office. The Post Office network has been through a difficult year, with some branches having to close, but that process is now coming to an end. Today's announcement recognises that the Post Office is a valuable national asset. With the card account secured and with the Government's £150m annual subsidy to support the Post Office, the network can now look forward to more stability."

Department for Business, Enterprise & Regulatory Reform
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