BEIS0001066 - Letter from The RT Hon Kemi Badenoch MP to NIck Read re: Post Office Accounts

Evidence on official site

BEIS0001066

BEIS0001066
slo The Rt Hon Kemi Badenoch MP
5 q Secretary of State for Business & Trade
President of the Board of Trade
“ Minister for Women & Equalities
Department for Business and Trade
Department for Old Admiralty Building
p Admiralty Place
Business & Trade vonde
London
SW1A 2DY
Nick Read, Chief Executive « SUERICS “i —
Post Office Limited Badenoch Correspondencet __.GRO

Finsbury Dials W  www.gov.uk

20 Finsbury Street,
London
EC2Y 9AQ

15 May 2023

Dear Nick,
Post Office Accounts

Thank you for your letter of 10 May. I appreciate you taking the time to write and apologise on behalf
of the Post Office.

I also welcome the investigation that Amanda Burton is undertaking into the incident, in her role as
the incoming Chair of the Post Office Remuneration Committee. I have set the expectation that this
investigation should complete within two weeks, to allow us all to have clear sight of all the facts,
particularly the evidence case that was used to assess that the Inquiry sub metric for 2021/22 had
been ‘achieved’. UKGI have confirmed that Amanda will work to this timetable, and I am grateful for
this. We have also been approached by the Business and Trade Select Committee, who will I am
sure be keen to see the results of the investigation too.

You will have heard Minister Kevin Hollinrake say in the House of Commons on 10 May that our
department is going to separately commission an independent review of the governance around
Post Office remuneration. This will take account of the issue of corporate best practice that you
mention in your letter. We are in the process of appointing the lead of this review, which will run in
parallel to Amanda's investigation, and we will share information with you about this soon. This
review is more likely to focus on whether there are significant safeguards built into the process than
removing bureaucracy. I will be grateful for your full commitment to share information with the
reviewer once they take up that role.

This has been an unfortunate episode and I am determined to ensure that we establish the facts and
allow the investigation and review to complete their work before we reach conclusions about next
steps. I! appreciate your engagement as we take forward the investigations and any follow-on
actions.

Best wishes,

THE RT HON KEMI BADENOCH MP
Secretary of State for Business & Trade and President of the Board of Trade
Minister for Women & Equalities