Ms Debbie Byrne:

The S22 contract, which was the old form contract, dated from 1902. Postmasters had a fixed element for three years. Every three years, we went back and looked at their actual transactions and the fixed amount for the next three years was calculated based on the level of transactions. As I mentioned earlier, what we are seeing, and the Senator referenced some of the points, is the changing nature of the business. At a top line, while we are trying to fill the bucket up all the time, transaction volumes and revenue are declining. Covid-19 has accelerated some of that trend. In the two years over Covid-19, 5.4 million transactions on welfare alone came out.