Victims of ‘Capture’, a second faulty Post Office accounting system, say their redress scheme may not be in place until the autumn.
Former sub-postmasters and their relatives met with government representatives for an update on compensation.
While lawyers describe “positive steps”, some victims have told Sky News that they are disappointed with the timescale and described coming up against the “grinding wheels of bureaucracy”.
It was the predecessor to Horizon, which led to hundreds of sub-postmasters being wrongly convicted of stealing between 1999 and 2015.
Former sub-postmaster Lee Bowerman, who was never accused of stealing but had to sell his Post Office business after using Capture, said the meeting was a “damp squib” and criticised “the grinding wheels of bureaucracy”.
He agreed that the proposed redress scheme would be “quicker than Horizon” but added “you can’t use them as a yardstick because at the end of the day …people still haven’t been paid out”.
Mr Bowerman added: “So don’t compare us to them when those schemes aren’t even fit for purpose.”
Around 100 Capture victims so far could be eligible for redress.
The scheme, however, would not apply to anyone currently convicted.
The Criminal Cases Review Commission (CCRC) have confirmed that they are now reviewing 27 Capture convictions.
Victims were told the government is considering a separate “fast track” redress scheme for anyone who has their conviction overturned in the future.
Image: Lee Bowerman had to sell his Post Office business after using Capture
Steve Marston’s case is among those being considered after he was convicted of stealing from his branch in 1996 following shortfalls of nearly £80,000.
“I don’t think it would be human nature not to be disappointed that [the redress scheme] is not being sorted out in the next couple of days even,” he said.
“But we are talking about the government, aren’t we? They’ve got to fill in a form in triplicate, get it rubber stamped three times and that’s for a box of paper clips,” he added.
“I mean it is what it is, we have got to roll with it, stick in there and keep pushing as much as we can”.
Clare Brennan, daughter of Peter Lloyd-Halt, who was a sub-postmaster accused of stealing whilst using Capture, said she and her mother Agnes found the meeting “positive”.
She went on to describe a “weight being lifted” after they were told that it had been officially recognised that Mr Lloyd-Halt had worked for the Post Office.
The family say all Mr Lloyd-Halt’s documents and evidence have been lost and it’s been a challenge to their case.
Lawyers for victims also described “positive steps” towards a new compensation scheme, following the government meeting.
Neil Hudgell, of Hudgell Solicitors, said that they were “reassured by the Department for Business and Trade today that good progress is being made with learnings taken from previous Post Office compensation schemes to form this one”.
He added that “there is a clear willingness to do right by those who have suffered at the hands of the Post Office in relation to Capture”.
“We always appreciate that redress can never come quick enough for these victims and we push as much as we can to take things forward.”
A spokesperson from the Department for Business and Trade said: “Officials met with postmasters today as part of the government’s commitment to develop an effective and fair redress process that takes into account the circumstances of those affected by Capture.
“Ensuring postmasters are treated with dignity and respect is our absolute priority and we will continue to update on the development of the redress mechanism as it progresses.”
The next meeting with Capture victims is due in April.
The world’s most valuable company, and first to be valued at $4trn (£2.9trn), beat market expectations in keenly anticipated financial results.
Microchip maker Nvidia recorded revenues of $46.7bn (£34.6bn) in just three months up to July, latest financial data from the company showed, slightly better than Wall Street observers had expected.
The company’s performance is seen as a bellwether for artificial intelligence (AI) demand, with investors paying close attention to see whether the hype is overblown or if significant investment will pay off.
Originally a creator of gaming graphics hardware, Nvidia’s chips help power AI capability – and the UK’s most powerful supercomputer.
Nvidia’s graphics processors underpin products such as ChatGPT from OpenAI and Gemini from Google.
Other tech giants – Microsoft, Meta and Amazon – make up Nvidia’s biggest customers and are paying large sums to embed AI into their products.
Why does it matter?
Nvidia has been central to the boom in AI development and the surge in tech stock valuations, which has seen stock markets reach record highs.
It represents about 8% of the value of the US S&P 500 stock market index of companies relied on to be stable and profitable.
Strong results will continue to fuel record highs in the market. Conversely, results that fail to live up to the hype could trigger a market tumble.
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Nvidia itself saw its share price rise more than 40% over the past year. Its value impacts anyone with cash in the US stock market, such as pension funds.
The S&P 500 rose 14% over the past year, and the tech-company-heavy NASDAQ gained 21%, largely thanks to Nvidia.
As such, its earnings can move markets as much as major economic or monetary policy announcements, like an interest rate decision.
Image: Sir Keir Starmer with NVIDIA chief Huang at London Tech Week. Pic: AP
What next?
Revenue rises are forecast to continue to rise as Nvidia said it expected a rise to roughly $54bn (£40bn) in the next three months, more than the $53.14bn (£39.3bn) anticipated by analysts.
This excludes any potential shipments to China as export of Nvidia’s H20 chip, designed with the Biden administration’s export crackdown on advanced AI powering chips in mind, had been banned under US national security grounds.
But in recent weeks, Nvidia and another chipmaker, AMD, reached an unprecedented agreement to pay the Trump administration a 15% portion of China sales in return for export licences to send chips to China.
There were no H20 sales at all to China in the second quarter of the year, the period for which results were released on Wednesday evening.
Previously, 13% of Nvidia’s revenue came from China, with nearly 50% coming from the US.
Market reaction
Despite the expectation-beating results, Nvidia shares were down in after-hours trading, as the massive revenue rises previously booked by the company were not repeated in the latest quarter.
Compared to a year ago, revenues rose 56% and 6% compared to the three months up to April.
The absence of Chinese sales in forecasts appeared to disappoint.
Ryanair staff are to get more money for spotting and charging for oversized baggage, the company’s chief executive has said.
Michael O’Leary said he made “absolutely no apology” for catching people who are “scamming the system”.
The reward for intercepting passengers travelling with bags larger than permitted will increase from €1.50 (£1.29) to €2.50 (£2.15) per bag in November, and the monthly €80 (£68.95) payment cap will be scrapped, Mr O’Leary said.
At present, the budget airline allows travellers a free 40cm x 30cm x 20cm bag, which can fit under the seat in front, and charges for further luggage up to 55cm x 40cm x 20cm in size.
Customers face fines of up to £75 for an oversized item if it is brought to the boarding gate.
“I make absolutely no apology for it whatsoever”, Mr O’Leary said.
“I am still mystified by the number of people with rucksacks who still think they’re going to get through the gate and we won’t notice the rucksack”, he added.
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Around 200,000 passengers per year are charged bag fees at airport gates.
“We have more work to do to get rid of them”, Mr O’Leary said.
“We are running a very efficient, very affordable, very low-cost airline, and we’re not letting anybody get in the way.”
The airline does not support a European Union proposal to ensure customers get a free cabin bag, he said.
Air fares
After a 7% fall in air fares for the year to 31 March, Mr O’Leary said he expected ticket prices to go back up this financial year.
“We expect to get most of last year’s 7% decline, but not all,” he told reporters in a news conference.
“We have sold about 70% of our September seats, but we have another 30% to sell, and it’s those last fares, what people pay for all those last-minute bookings through the remainder of September, that will ultimately determine what average airfares are.”
A larger than expected hike in the energy price cap from October is largely down to higher costs being imposed by the government.
The typical sum households face paying for gas and electricity when using direct debit is to rise by 2% – or £2.93 per month – to £1,755, the energy watchdog Ofgem announced.
The latest bill settlement, covering the final quarter of the year until the next price review takes effect from January, will affect around 20 million households.
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The discount is set to add £15 to the average annual bill.
It will provide £150 in support to 2.7 million extra people this year, bringing the total number of beneficiaries to six million.
The balance is made up from money needed to upgrade the power network.
Tim Jarvis, director general of markets at Ofgem, said: “While there is still more to do, we are seeing signs of a healthier market. There are more people on fixed tariffs saving themselves money, switching is rising as options for consumers increase, and we’ve seen increases in customer satisfaction, alongside a reduction in complaints.
“While today’s change is below inflation, we know customers might not be feeling it in their pockets. There are things you can do though – consider a fixed tariff as this could save more than £200 against the new cap. Paying by direct debit or smart pay as you go could also save you money.
“In the longer term, we will continue to see fluctuations in our energy prices until we are insulated from volatile international gas markets. That’s why we continue to work with government and the sector to diversify our energy mix to reduce the reliance on markets we do not control.”
The looming price cap lift will leave bills around the same sort of level they were in October last year but it will take hold at a time when overall inflation is higher.
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Food price increases, also partly blamed on government measures such as the national insurance contributions hike imposed on employers, have led the main consumer prices index to a current level of 3.8%.
It is predicted to rise to at least 4% in the coming months, further squeezing household budgets.
Ministers argue that efforts to make the UK less reliant on natural gas, through investment in renewable power sources, will help bring down bills in future.
Energy minister Michael Shanks said: “We know that any price rise is a concern for families. Wholesale gas prices remain 75% above their levels before Russia invaded Ukraine. That is the fossil fuel penalty being paid by families, businesses and our economy.
“That is why the only answer for Britain is this government’s mission to get us off the rollercoaster of fossil fuel prices and onto clean, homegrown power we control, to bring down bills for good.
“At the same time, we are determined to take urgent action to support vulnerable families this winter. That includes expanding the £150 Warm Home Discount to 2.7 million more households and stepping up our overhaul of the energy system to increase protections for customers.”