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<p>Just over £1bn has been committed by Government to ensure postmasters are compensated
fairly. This funding covers the three Horizon compensation schemes: the Overturned
Convictions scheme, the Group Litigation Order Scheme, and the Horizon Shortfall Scheme.
Funding is agreed by HM Treasury at the relevant Estimate on the basis of the Department
for Business and Trade’s forecasts for compensation.</p><p>A provision was made in
the 2022/23 accounts of the Department of Business, Energy & Industrial Strategy
(BEIS). Provisions should not be seen as an indication of the total amount of money
available for compensation or how much claimants will receive; they are an estimate
based on the latest information available.</p><p>The total discounted liability as
at 31 March 2023 for sub-postmasters affected by issues arising from the Horizon software
system was estimated at £600 million. This provision has subsequently transferred
over to the Department for Business and Trade (DBT) and an updated value will be reflected
in the department’s 2023-24 annual report and accounts to reflect policy announcements
and changes since last years accounts.</p><p>Provision values will not include compensation
paid to date. Annual accounts are produced on an accruals basis and compensation payments
are recognised on this basis.</p>
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