Post Office: Executive Remuneration

Lord McFall of Alcluith Excerpts

Tuesday 27th February 2024 Lords Chamber

[Lord Johnson of Lainston (Con)]

I am very grateful to the noble Lord for raising this point. I think we all agree that this is an extremely distressing situation for the postmasters involved. A committee hearing is going on in the other place, which I believe we will discuss later this afternoon. I reassure all Members of this House that the Government never approved the bonuses for the section relating to co-operation with the Horizon inquiry. Frankly, the idea that you should reward executives for performing their duty is surprising, and we certainly did not confirm those bonuses. That is a very important point. The second important point to make is that the executives, as I understand it, have paid back the portion of the bonus relating to that, but that does not change the fact that we need to review how Post Office executive remuneration functions. There has been a number of different reviews of the governance of that, and the Government are taking significant note of them.

[The Lord Speaker (Lord McFall of Alcluith)]

My Lords, the noble Baroness, Lady Brinton, is participating remotely.

[Baroness Brinton (LD) [V]]

My Lords, the Minister’s Answer just now was very interesting, given that the Post Office Limited: Shareholder Relationship Framework Document says at paragraph 7.6 that

“the remuneration of all Board members will require approval by the Shareholder”,

and remuneration that exceeds the threshold must also be approved by the Chief Secretary to the Treasury. Can the Minister say what bonuses were approved after 2015? Have any additional approvals been required by the Chief Secretary to the Treasury since 2015? If the Minister does not have this information, I would be grateful if he wrote to me with it.