A state-owned Post Bank could restore trust in UK retail banking, reinvigorate Royal Mail and tackle financial exclusion

The Royal Mail faces an uncertain future with a pension shortfall of over £10 billion and declining letter volumes due to the rise of email and social networking. Chris Gilson argues that rather than fully privatising Royal Mail, the government should resurrect Labour’s plans create a new ‘People’s Post Bank’ , which would provide Royal Mail with new revenues and provide a Universal Banking Guarantee to those in need.