Mr Reynolds told the inquiry he took “ultimate responsibility” at government level for full, fair and prompt compensation for sub-postmasters.

He said there had been a “significant increase in the rate at which compensation was being paid” since 20.01. general electionsand told the inquiry he did not believe it was “at the cost of fair or accurate compensation”.

Also testifying on Monday, Mr Reynolds said sub-postmasters were not “remunerated enough of what the public want from the post office”, adding that pay rises would require “very significant changes to the overall business model”.

“Corporate Culture”

Commenting on the culture within the Post Office in his witness statement to the inquiry, he said: “It is clear that the corporate culture of the Post Office is at the root of this scandal and I want to make sure that the system works for sub-postmasters.

“I support a reform agenda that seeks to turn this ambition into reality.”

Sir Alan Batesleading campaigner and former deputy postmaster, previously told MPs he wanted the Department for Business and Trade to set a deadline of March next year for compensation payments to claimants who took the post office to the High Court between 2017 and 2019 – also known as GLO scheme.

Asked if he could meet Sir Alan’s deadline, Mr Reynolds said: “The position I’m in is I’m trying to make sure people get compensation for a horrible scandal… at least I don’t. you want to do anything that aggravates the injustice.

“And the concern about a deadline — can you imagine a situation where, for whatever reason, a claim didn’t come in?

“I think it will be unthinkable to say that this will not be considered.”