Union slams ‘national scandal’ of £58m pay for water company bosses

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Water firm bosses have come underneath hearth after gathering £58m in wage, bonuses, pensions and different advantages over the previous 5 years.

The 9 bosses of England’s privatised water and sewerage firms had been paid £11.3m final yr, figures compiled from annual accounts by the GMB union present.

The union mentioned the figures amounted to a “nationwide scandal” and demonstrated that privatisation of water providers had been a expensive mistake.

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The common pay of the 9 bosses was £1,254,000 in 2017 – six occasions greater than the pay and pension of the Prime Minister.

Severn Trent paid its chief govt Liv Garfield £2,450,700 final yr – probably the most of any water firm and a 50 per cent improve since 2013, the analysis confirmed. Shut behind was United Utilities boss Steve Mogford who acquired  £2,310,000 in wage and advantages final yr –  a 48 per cent rise on his 2013 pay. 

In the meantime, clients have seen their water payments rise by 40 per cent above the speed of inflation since privatisation in 1989, in accordance with a 2015 report by the Nationwide Audit Workplace.

Tim Roache, GMB Common Secretary, mentioned: “It’s a nationwide scandal over the past 5 years England’s hard-pressed water clients have been compelled to splash out £58 million by way of their payments to enter the pockets of simply 9 people.

“Privatisation of the water trade has been a expensive mistake and these eye-watering sums are additional proof the water trade have to be returned to public arms.

“GMB is urging folks and politicians to Take Again the Faucet and make our water providers work for the various and never the few.”

“Water is probably the most pure monopoly and must be in public arms.”

Supply hyperlink – http://www.impartial.co.uk/information/enterprise/information/water-company-bosses-pay-benefits-national-scandal-gmb-union-severn-trent-a8384006.html

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