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MHK queries Post Office profit share

Oltey jeh'n Chiare as Feed briaght mychione rheynn-chosnee yn Oik Postagh

Rheynn-chosnee Oik Postagh Ellan Vannin marish y Tashtey, v'ee dy gholl er scrutaghey sy Chiare as Feed jea (Jemayrt).

Kate Beecroft, Oltey jeh'n Chiare as Feed son Doolish Yiass, v'ee laccal feddyn magh cuin hie yn reaghey er caghlaa veih cur jeih as daeed sy cheead dy chosnaghyn yn Oik Postagh, gys geeck daa villioon punt soit gagh blein, quoi va freggyrtagh son y caghlaa shen, as cre va'n cheeall jeh. 

Va'n eysht son Caairliagh yn Oik Postagh, Graham Cregeen. 

Hie yn reaghey er caghlaa veih'n vlein argidoil feed cheead as daa-yeig gys feed cheead as tree-jeig, ga dy row eh er ve er yn Oik Postagh argid spaarit y chur da'n Tashtey daa cheayrt ayns ny tree bleeaney roish shen.

Ooilley cooidjagh, she 8.6 millioon punt va'n sym eeckit da'n Tashtey harrish y traa shen. 

Dooyrt Bnr Beecroft dy re quaagh va'n tailley soit, er yn oyr dy row cosnaghyn yn Oik Postagh tuittym.

MHK queries Post Office profit share

Isle of Man Post Office's profit sharing with Treasury was set to come under scrutiny in the House of Keys yesterday (Tuesday). 

South Douglas MHK Kate Beecroft wanted to know when the arrangement was changed from handing over 50 per cent of its profits to a fixed £2 million per annum, who was responsible for that change, and what the rationale for it was. 

The question was for Post Office Chairman Graham Cregeen. 

The arrangement was changed from the 2012/2013 financial year, although the Post Office had been required to hand over money from its reserves  to Treasury twice in the previous three years.

The total paid to Treasury in that time was £8.6 million. 

Mrs Beecroft said the fixed fee was odd, given the Post Office's falling profits.

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