Post Office chairman Julie Edge has confirmed that corporatisation plans could be dropped.

She was asked to provide an update in Tynwald and it was clear that a number of members did not favour the proposals.

Ms Edge said a review of Post Office operations was taking place with the Treasury and the new board.

She confirmed that not progressing with corporatisation was an option.

The issue led to Graham Cregeen MHK’s sacking as chairman of the Post Office last year, when he was at odds with the board’s proposals to change its status from statutory board to a government-owned company, following a report recommending corporatisation.

Tynwald rejected most recommendations, other than the adoption of articles of association.

Juan Turner MLC, a former vice-chairman of the Post Office, said last week that corporatisation was not needed at the Post Office.

’It is performing extremely well and there is nothing that corporatisation will permit them to do that they cannot do under the current structure,’ he said.

’Should this idea not be abandoned for the time being?’

Ms Edge said: ’I think that is possibly an option. Having reviewed the Toime Report (into the governance structure of Post Office) myself there are a number of recommendations in there.

’I think it is crucial that there is a full review of this with the new board and I will look at everything.’

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She added: ’The will of this court is to bring the articles of association, and I feel that needs to be debated before any future direction of the Post Office is considered and I am sure that will open a good debate.’

Ms Edge, who earlier pointed out that corporatisation was first suggested in 2006, said the Post Office was giving a return of profit to the government. She agreed with a comment from David Ashford (Douglas North) that, ’if it isn’t broken, don’t try and fix it’.

Mr Ashford also asked Ms Edge if she was personally in favour of corporatisation - and to answer yes or no.

To laughter, Ms Edge responded: ’I am very open-minded with regard to that at present.’

Elmar Toime was commissioned to compile his report by the Cabinet Office in 2015. If Tynwald had supported all of his recommendations, it would have meant an amendment to the Post Office Act and powers transferred to a new limited company, which would have been owned by the Treasury, as shareholder.