Source · Select Committees · Public Accounts Committee
Recommendation 17
17
Acknowledged
Department provided £260 million in grants and £786 million in loans to Post Office.
Conclusion
The 2023–24 Annual Report and Accounts show that the Department provided £260 million in grants and subsidies to the Post Office and had total borrowings of £786 million with the Department, made up as follows: 30 Type of Support Description Value Annual support Capital Grants £90m Annual support Subsidies to support £120m Horizon Inquiry & Compensation Schemes Annual support Subsidies to Post Office £50m Limited to support normal function Loan Limited Term Loan £45m Loan Working Capital Facility £741m Other contractual Funding for future £840m commitments Horizon Redress Scheme (estimated Settlements (Post Office value) Administered Schemes) 27 Q 16 28 Q 24 29 Q 22; DBT ARA 2023–24, p 154; Post Office Limited, Annual Report and Consolidated Financial Statements 2023/24, December 2024, pp 72-74, 86-91, 146-147 30 DBT ARA 2023–24, pp 103, 158, 176, 200, 207 12
Government Response Summary
The government acknowledges the committee's observation regarding the Post Office's financial support and borrowings, and commits to writing to the Committee in Autumn 2025 following the publication of the Treasury Minute.
Government Response
Acknowledged
HM Government
Acknowledged
3.1 The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2025 3.2 The department will write to the Committee in Autumn 2025, following the publication of this Treasury Minute.