Skip to content
Search
AI Powered
Latest Stories

Post Office outgoing CEO expresses 'deep regret' over compensation delays

Post Office outgoing CEO expresses 'deep regret' over compensation delays
(Photo by Dan Kitwood/Getty Images)

Compensation process has been "overly bureaucratic", said the Post Office's outgoing CEO Nick Read, expressing "deep regret" that the Post Office had not lived up to delivering "speedy and fair redress".

Read, who resigned last month, was giving evidence at the Post Office Horizon IT Inquiry for the second day, with a focus on delays to victims' financial redress when he admitted that the the government is using the company as a "shield" over compensation schemes.


Edward Henry KC, representing wronged sub-postmasters caught up in the Horizon scandal, asked Read if the government "is using the Post Office as a shield or a fire curtain".

He replied, "That could be a description, yes."

Henry continued, "The fact you're [the Post Office] administering two out of the three schemes gives the government a degree of protection… one step removed gives it room for plausible deniability?"

Read responded, "That's true."

The outgoing Post Office boss denied the company has been instructed "to minimise or suppress compensation claims whilst avoiding public scrutiny".

Read admitted, however, that the compensation process has been "overly bureaucratic" and expressed "deep regret" that the Post Office had not lived up to delivering "speedy and fair redress". However, he insisted the "approach" and way of "engaging" with victims has changed in the last few months, with "lessons learned" since the start of the year.

"I think we are genuinely open and moving towards a better system," Read told the inquiry. "There are proper appeals processes, proper independent panels now working."

He added there is a "commitment… to get this right," and said he believes "things will start to flow" despite "mistakes hav[ing] certainly been made".

Read also addressed the "terrible" fact that hundreds of sub-postmasters have died before receiving compensation. A total of 251 people have died without getting full financial redress, according to data cited at the inquiry.

Nick Read insisted "a lot of time" has been spent "trying to work out how do we improve and speed up the process", adding it was a "constant point of conversation" with the government.

Read said it was "astonishing" the Post Office was involved in the administration of compensation schemes and said the "corporate view" was that the Post Office should not have anything to do with them.

When asked why that view was not communicated to the inquiry in meetings, Read responded, "It's a good question. I'm unsure why we didn't make that very explicit…clearly we should have done."

He said the lack of communication on this was a "failure". Read also today told the inquiry how Post Office employees "implicated" in the Horizon scandal may "still be operating at the heart" of the business.

The inquiry continues.

More for you

Food inflation eases as retailers treat customers to spooky season deals

iStock image

Food inflation eases as retailers treat customers to spooky season deals

October saw shop prices fall marginally further into deflation for the third consecutive month with food inflation eased, particularly for meat, fish and tea along with chocolate and sweets as retailers treated customers to spooky season deals, shows industry data released today (29).

According to British Retail Consortium (BRC), shop price deflation was at 0.8 per cent in October, down from deflation of 0.6 per cent in the previous month. This is below the 3-month average rate of -0.6 per cent. Shop price annual growth was at its lowest rate since August 2021.

Keep ReadingShow less
PayPoint

PayPoint unveils new partnership with Leeds Credit Union

PayPoint has announced a new partnership with Leeds Credit Union (‘LCU’), a financial cooperative with 37,000 members, enabling them access to its CashOut service, effective immediately.

The partnership will mean that LCU customers can access their cash and savings across any of PayPoint’s UK network of 29,000 retailer partners. This represents an unprecedented growth in accessibility and the first partnership of its kind for LCU. Historically customers have needed to visit one of LCU’s four branches to withdraw money.

Keep ReadingShow less
Philip Morris to close German factories as cigarette demand declines
A Philip Morris logo is pictured on a factory in Serrieres near Neuchatel, Switzerland December 8, 2017. REUTERS/Denis Balibouse/File Photo

Philip Morris Shutting Down German Factories Due to Declining Cigarette Demand

Marlboro-maker Philip Morris said Tuesday it planned to close down its two production sites in Germany, citing falling demand for cigarettes among Europeans.

"In recent years, demand for cigarettes in Europe has fallen significantly," the company said in a statement, adding that it saw the same trend for roll-your-own tobacco.

Keep ReadingShow less
Nisa retailer Prem Uthayakumaran donates thousands to support local communities

Nisa retailer Prem Uthayakumaran donates thousands to support local communities

Nisa retailer Prem Uthayakumaran has made significant donations totalling £3,500 to two local community organisations through Nisa’s Making a Difference Locally (MADL) charity.

The funds will provide essential support to groups within the communities that his stores serve, helping them continue their invaluable work.

Keep ReadingShow less
High streets pay over 'one third of UK's business rates'
(Photo by Jeff J Mitchell/Getty Images)

High streets pay over 'one third of UK's business rates'

High streets in the UK are collectively pay one third of all business rates while accounting for 9 per cent of the economy, British Retail Consortium (BRC) stated on Thursday (24), strengthening its call for a fairer level of business rates for hospitality and retail.

BRC and UKHospitalityare united in their call for the Chancellor to implement a fairer level of business rates for hospitality and retail at the Budget, which will rebalance a system that unfairly punishes our high streets and town centres. This was a manifesto pledge from Labour ahead of the election.

Keep ReadingShow less