The Post Office has spent £132m of taxpayers’ money defending itself at an inquiry into the wrongful convictions of hundreds of sub-postmasters, according to the latest figures available.
The revelation in the company’s annual report came this week after two-and-a-half years of evidence was heard for the inquiry.
This figure covers legal and running costs from its inception to 31 March 2024, but does not include money spent after that date.
Post Office chairman Nigel Railton said the Post Office was “learning from the serious failures of the past”.
More than 900 sub-postmasters have been sued over errors in their accounts over errors in Fujitsu’s Horizon IT system in what has been described as the biggest miscarriage of justice in British legal history.
Many lost their livelihoods or were forced to make ends meet, while some former subpostmasters took their own lives.
The inquiry comes after years of fighting to expose the injustice of subpostmasters.
The Post Office’s figure for legal costs related to the inquiry does not include the money it has spent on paying compensation to wrongfully convicted sub-postmasters.
It also said it had made provisions for a total of £816 million in “extraordinary costs” to 31 March 2024, including legal and running costs, as well as costs incurred on compensation and convictions. Amount included.
However, despite the costs, Some postmasters say they have not received any compensation yet.while others, Like Sir Alan BatesArguing that what they have been offered is not enough.
The findings show how legal and running costs increased as the inquiry continued.
The Post Office spent £82m in the 12 months to 31 March, £38m in the previous 12 months, and £12m in the year before that.
The findings also show how much legal costs and redress are weighing on his finances.
It revealed pre-tax losses had widened to £612m from £81m the previous year – while its debts exceeded the value of everything it owned.
The release of the data comes after two-and-a-half years of evidence-hearing sessions concluded this week and final statements were submitted.
Commenting on the milestone, Mr. Railton said “there is still much to learn and engage with our organization culturally as we move forward.”
Its chief executive also said on Thursday that the organization expects the figure paid out in compensation to rise in the new year as it continues to “accelerate the pace of payments”.
However, he added that “no amount of financial compensation can replace the loss of victims”.
Nick Reid also won’t get the bonus, having waived his rights to it when he resigned in September after months of scrutiny for the organization.