Postmaster General Nick Read admits attempts to raise pay look ‘very poor’ | Business news

Postmaster General Nick Read has admitted his attempts to secure a pay rise while victims were still waiting for compensation “look very poor”.

Giving evidence on his third and last day at the investigation of the Scandal horizonthe outgoing chief executive denied trying to “interfere” more money with his ability to carry out his role.

“I don’t think that’s the case,” he told Sam Stein KC. “I’m very aware of the furor around my pay and remuneration, I’m by no means deaf to it.”

He continued: “It looks very poor in the eyes of the victims who are still waiting for their compensation and I am very sorry for the furore that has erupted and as a result it has been a distraction for everyone.”

Henry Staunton, former chairman of the Post Office, previously told the inquiry he had twice asked the government to double Mr Read’s pay and said the chief executive had threatened to resign.

Speaking to Sky News afterwards, Mr Staunton said: “It was taking up a disproportionate (amount) of time without a doubt… I think it must have been taking a disproportionate amount of his energy.”

He was also asked Mr. Read about a letter he sent to the Lord Chancellor on January 9 this year after the ITV drama about the scandal was shown

Attached was a note provided by the Post’s attorney stating that it was “highly probable that the vast majority of persons who have not yet appealed were in fact guilty as charged and would be safely convicted “.

Read denied it was intended to persuade the government not to introduce a mass sacking of deputy postmasters.

The letter and note were posted on the Post Office website.

When asked if this was the “chief executive’s view”, Read said he did not believe it was, but agreed to release the letter and memo “seems quite appalling”.

Read more:
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He was also asked Mr. Read where the deputy postmasters’ money had gone, used to pay for non-existent shortages in their offices.

He said several external forensic accountants had been “trying to assess what has gone and where”.

Accountants have identified a figure of “around £36m between 1999 and 2015”, he said, the years during which hundreds of deputy postmasters were wrongly accused of stealing.

“It’s our best effort in terms of where we need to go,” Read added.

Mr. Read joined Correus in 2019 and is due to giving up the role in March 2025.

The final phase of the Post Office consultation will end in mid-November.