{"id":73740,"date":"2024-01-11T08:31:26","date_gmt":"2024-01-11T08:31:26","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=73740"},"modified":"2024-01-11T08:31:34","modified_gmt":"2024-01-11T08:31:34","slug":"the-post-offthe-post-office-makes-clear-that-modern-capitalism-is-all-about-reward-without-responsibility","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/01\/11\/the-post-offthe-post-office-makes-clear-that-modern-capitalism-is-all-about-reward-without-responsibility\/","title":{"rendered":"The Post Office makes clear that modern capitalism is all about reward without responsibility"},"content":{"rendered":"

For obvious reasons, I had a quick look at the accounts<\/a> for the Post Office this morning. This is the latest balance sheet:<\/p>\n

\"\"<\/p>\n

Let me summarise its situation in a word: it's bust. Much of that is due to provisions for the subpostmaster's dispute.<\/p>\n

Then let me make one further observation, which refers to this note in the directors' report:<\/p>\n

\"\"<\/p>\n

So, everyone is on the hook for what happens at the Post Office except the directors.<\/p>\n

That is what modern capitalism is all about: reward without responsibility.<\/p>\n","protected":false},"excerpt":{"rendered":"

For obvious reasons, I had a quick look at the accounts for the Post Office this morning. This is the latest balance sheet: Let me
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