Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

My colleague, the Minister of State, Deputy Naughton, who has responsibility for the postal sector, has met both An Post management and the Irish Postmasters' Union, IPU, and will consider the content of the IPU's report as matter of urgency. As the Deputy knows, An Post has a strategic plan for the medium and long-term future. This covers the period from 2017 to 2021. In order to implement the plan, the cost of which was estimated at €150 million, the Minister for Finance provided a loan of €30 million to the company in December 2017 to support the renewal of the post office network and the continued fulfilment of a five-day-per-week mail delivery service, the cost of each amounting to €15 million. An Post continues to undergo vital transformation as part of the delivery of its strategic plan which has seen the company split into two distinct business units, An Post mails and parcels and An Post retail. An Post will continue to transform its retail network by delivering new products and new formats, which includes diversifying and growing the range of financial services products it provides to individuals and SMEs to include loans and so on. The investment by An Post of €50 million in the network aims to get communities to use the enhanced services in their local post offices.

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