Table:
| Key management1 compensation |  |  |
| --- | --- | --- |
| £m | 2019 | 2018 |
| Salaries and short-term employee benefits | 4.7 | 4.9 |
| Pensions and other post-employment benefits | 0.3 | 0.8 |
| Share-based payments | 1.5 | 1.7 |
|  | 6.5 | 7.4 |
Paragraphs:
35 Related party transactions
Key management1 compensation
1 Key management comprises the directors of intu properties plc and the Executive Committee who have been designated as persons discharging managerial responsibility (PDMR).
During 2017 the Group’s joint ventures in intu Puerto Venecia and intu Asturias sold shares in subsidiaries, previously wholly owned by the respective joint ventures, listed on the Spanish MaB to PDMRs of the Group. The total value of the shares at 31 December 2019 is €1.0 million for each joint venture, representing 1 per cent of the respective outstanding share capital. The sale of shares in these entities was required to comply with Spanish MaB free float listing requirements. The Group provided an interest-free loan to PDMRs to enable them to purchase the shares. The loans are treated as a taxable benefit which accordingly is included in the above table. In line with the terms of the relevant loan agreements entered into, the loans are repayable in full upon cessation of employment or the sale of the underlying assets. Further to the exchange of contracts in respect of the sale of intu Puerto Venecia in December 2019 and of intu Asturias in January 2020, the relevant PDMRs sold these shareholdings in January 2020 and February 2020 respectively. All outstanding loans in respect of the above arrangements have been repaid to the Company in full or in part. For those loans which have been partially repaid, the outstanding balance has been written off by the Company.
Question:
What is the percentage change in the salaries and short-term employee benefits from 2018 to 2019?
Answer: (4.7-4.9)/4.9 = -4.08