Embargoed for Thursday 30 September 2004 00:01
He argues that by dividing its letters, parcels and counter services into three separate businesses that each will succeed or fail on their own merits without the need for public subsidy.
Senior argues that were it not for the cash reserves that the Post Office had to keep with the Treasury in the 1990s, the Post Office would be insolvent. "For a company with a near-monopoly of a valuable market" writes Senior, "to make massive losses resulted purely and simply from incompetent management."
Senior argues:The Post Office is suffering from heavy-handed regulation by Postcomm which will not allow the Post Office to get on with its job of rooting out inefficiencies.
Parcelforce, the Post