John Gerard Hanafin (Fianna Fail)

In supporting necessary amendments, I am conscious that the amount of capital invested by An Post would indicate that we will have to be careful in how we designate the universal supplier. Seven years would not be sufficient under any banking terms. It would be a most unusual rate of return to get the capital returned over seven years. An Post has made significant capital investment in its markets, its computers and its people. While agreeing with what has previously been said, we must be conscious that there is a limited pool here. With that limited pool, new entrants will come in and try at every hand's turn to cherry pick the most profitable areas only.

The purpose of these amendments is to ensure a level playing field. If we do not get it right now, we will pay for it on an ongoing basis, just like the postal service in the UK. That is why I ask the Minister to consider extending the seven period to 20 years for the designation of a universal service provider, and to take on board what we previously mentioned, namely, the importance of An Post and its type of carriage. It really is a specialist area and we must be careful to assess the type of provider that is given a licence. There should be stringent regulations on who has responsibility for carrying Government cheques, cash or valuables in the post, and the form that would take.