Post Office: Finance
The question
To ask the Secretary of State for Business and Trade, how much funding has been allocated to the Post Office in each year of the 2025 Spending Review period.
Answered by Gareth Thomas
The settlement following the Spending Review provides investment of over £500 million over the Parliament to modernise the Post Office, including £86 million from the Transformation Fund. This will allow the Post Office to implement its Strategic Transformation Plan, including the replacement of the legacy Horizon computer system, and will put the Post Office and the crucial services its network provides on a more sustainable footing.
The Spending Review settlement also ensures the Department will have maximum capacity and flexibility to provide full redress to the victims of the Post Office Horizon IT Scandal as quickly as possible. At Autumn Budget 2024, the Government set aside £1.8 billion of funding for redress payments from 2024-25 in addition to around £200 million that had already been distributed.
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