Alistair Carmichael is now up.

The Liberal Democrat MP is saying a number of people he represents were affected by the Horizon scandal and have made claims for compensation since the airing of the ITV drama.

He is asking what the government is doing to ensure everyone who may have a claim is able to seek compensation.

Badenoch replies that it's her priority to make sure people are getting their compensation as quickly as possible.

She says compensation was being handed out well before the ITV drama aired and acknowledges there is a still a lot of work to do.

Tory MP for Wokingham, John Redwood, is now taking the stage.

The Conservative MP is criticising UKGI - UK Government Investments - asking how it managed to preside over the Post Office with the "dreadful'' treatment of the sub-postmasters.

Badenoch tells MPs this is why they are making personnel changes, and adds that this is why the Post Office needs an "effective chair".

She says she never had any correspondence from Henry Staunton about difficulties he was facing and says he should have contacted her instead of the Sunday Times.

Badenoch is back on her feet replying to a question from SNP MP Marion Fellows.

She says exoneration must be "hurried up" and that compensation must be paid "sooner rather than later".

Badenoch clarifies that it is her understanding that 100% of cases involving the main compensation scheme in place under Staunton's watch - the Horizon Shortfall Scheme - have received offers.

Paul Scully, the former postal affairs minister, is next up.

He is saying that when he was in the role, officials were driven to get "the life-changing money" to postmasters.

"I cannot believe for a minute they would be thinking and doing the polar opposite" months later, he says.

He is asking for confirmation from Badenoch that the conversations about slowing down compensations, as alleged by Staunton, didn't happen.

Badenoch says her officials have looked through all of the correspondence and minutes from meetings Staunton had with the department, "and have found absolutely nothing", she says.

She says she is sure he would have mentioned his concerns to ministers, such as herself or the postal affairs minister, at the time, and so concludes that he must be making it up.

Image source, UK Parliament

The business secretary is now saying that the government will consider publishing correspondence between departments and Staunton in line with the Freedom of Information Act so "people will know exactly what happened contrary to the account he has given".

She says the government is actively working on legislation and it is expected to do this imminently.

Referring to the £1bn allocation, Badenoch is now telling MPs that the government gives monthly reports that show which payments are being made.

The government, she says, is fully co-operating with the inquiry.

Image source, UK Parliament

Badenoch is back up again and is responding to questions posed by Reynolds.

The first question she is addressing is whether she will categorically state if no instruction was given by civil servants to delay payments to sub-postmasters.

"Yes," Badenoch replies, adding she has no evidence any official said it.

She urges Staunton to bring the evidence if he has it and describes his comments as "wild, baseless allegations".

There would be no benefit to us delaying compensation claims, she says, noting that it wouldn't have an impact on revenue.

Reynolds is requesting that all correspondence relating to the scandal be published, adding that the last thing needed is any further allegations of obfuscation by the government.

"People's faith in government, already damaged from scandals like Hillsborough, and Bloody Sunday and Windrush, is hanging by a thread," he says.

The shadow business secretary says we all should agree that secrecy in institutions should end.

Reynolds is still up and he insists that "what we need now is transparency and scrutiny".

He's turned his attention to Badenoch and is asking if she can confirm that the Post Office at no point was told to delay compensation payments by an official or minister from any government department.

The shadow business secretary asks if there will be a Cabinet Office investigation to make sure no such instruction was given at any point.

Reynolds also asks if we will see compensation payments itemised in forthcoming budgets.

Image source, UK Parliament

Shadow Business Secretary Jonathan Reynolds is now speaking and says the claim that the Post Office was instructed to ''go slow'' on compensation - if it is the truth - is an ''outrageous insult'' to the house.

It must be shown to be false in no uncertain terms, he says, and "only one of these accounts can be the truth".

Image source, UK Parliament

Badenoch is now turning to the current status of postmasters in society.

She says we need to reflect upon the cultural practices at the Post Office, adding that postmasters need to be championed as the lifeblood of their communities.

"I must say that I regret the way these events have unfolded," Badenoch says.

The business secretary says her department did "everything we could" to manage Staunton's dismissal, but she will not hesitate to defend herself and her staff.

It's the number one priority to deliver compensation to postmasters, she says.

"We said the government would leave no stone unturned in uncovering the truth behind the scandal," she says, and "we are delivering on that promise".

Badenoch continues in her address by claiming that the government has already made payments totalling £160m across compensation schemes for victims of the scandal.

"British people should know that a dedicated team of ministers and civil servants has been working around the clock to hasten the pursuit of justice and bring swift, fair address to all those affected," she says.

Badenoch is now providing MPs with a read out of the conversation that took place with Staunton. This conversation, she adds, is being deposited in the public domain so people can see the truth.

For all of these reasons, she says, an interim chair will be appointed shortly.

Image source, UK Parliament

Badenoch is continuing to explain how there were "serious concerns" about Staunton's behaviour.

She says Staunton wanted to bypass the process of appointing someone to the board, and failed to consult the Post Office board on the proposal.

She describes this as a "cavalier approach to governance", and adds it was the "last thing we needed in the Post Office given its historic failings".

There were serious matters, she adds, such as a bullying investigation also launched during Staunton's time in office

Badenoch says she has three claims made by Staunton to address.

The first claim she rebuts is the notion that she refused to apologise to him. "That was not the case," she says.

She adds she made it clear to him that she disapproved of the media breaking any aspect of this story and that she went to "great pains" to make her concerns private.

"That is why it is so disappointing that he has decided to spread falsehoods," she says.

Image source, UK Parliament

Business Secretary Kemi Badenoch begins her statement by saying several serious allegations were made against the government by Henry Staunton.

"These allegations are completely false," she says.

"I would like to make a statement so everyone knows the truth about what happened."

Here we go - Kemi Badenoch is on her feet and is about to speak to the Commons.

You can watch the statement live by pressing Play at the top of the live page.

We will bring you all the updates and analysis, so stay with us.

Business Secretary Kemi Badenoch recently told the BBC's Laura Kuenssberg that she sacked the chairman of the Post Office because the "'whole business model" needed to change.

"It is very difficult to be asked to stand down from a position, but I decided given all of the difficulties the Post Office is having, it’s not just about Horizon, it’s about the entire business model,” she said.

The government, she added, “needed someone who could chair a board that was able to deal with these things effectively".

With Henry Staunton in that role, she said, "it just wasn't working”.

Former Post Office chairman Henry Staunton is defending his claims made to The Sunday Times, saying that it is "pretty obvious what was really going on" after he was criticised for claiming that he'd been told to stall compensation to Horizon scandal victims.

In a statement released to Sky News on Monday, the ex-Post Office chair maintained his position that compensation payments were slow.

"It was in the interests of the business as well as being fair for the postmasters that there was faster progress on exoneration and that compensation was more generous, but we didn't see any real movement until after the Mr Bates programme," he said.

"I think it is pretty obvious to everyone what was really going on."