Plans to corporatise Post Office put on hold

Renewed concern over declining mail volumes

Plans to corporatise the Isle of Man Post Office have been put on hold indefinitely.

Chair of the board, Julie Edge MHK, made the unexpected announcement in Tynwald earlier.

Turning the organisation into a state-owned company has been on the political agenda for years.

The move was approved in principle last year and the finer points were due to be ironed out via a public consultation during the coming months.

Ms Edge now says renewed concern over declining mail volumes, future profitability and employee pension liabilities have led to all discussions being 'postponed for the foreseeable future.