Post Office faces £311m million in claims as part of its Historical Shortfall Scheme for current and former sub-postmasters to claim shortfalls related to previous versions of the scandal-hit computer system Horizon.
The figure, revealed by the Department for Business, Energy and Industrial Strategy (BEIS) in response to a Freedom of Information request, amounts to nearly ten times of the budget Post Office has earmarked for the scheme.
The document also reveals that some 2200 claims were made under the scheme, against an anticipated 500, adding that the cost could affect the firm’s ability to operate as a going concern.
“The Historical Shortfall Scheme was oversubscribed (2,200 vs 500 anticipated) and the claims could cost up to £311m, materially above POL’s budget of £35m, and there is a risk that this would impact POL’s ability to operate as a going concern,” the document stated.
The Historical Shortfall Scheme was launched in May last year following the £58m settlement between over 550 claimant postmasters and the Post Office in the long-running Horizon trial at the High Court.
Earlier in May, Post Office chief executive Nick Read has called on the government to compensate victims of the Horizon scandal, saying that the firm “simply does not have the financial resources to provide meaningful compensation.”
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