Tag Archives: executive pay

Farron & Foord: Water executives get bonuses despite sewerage scandal

In a press release that is receiving widespread coverage in this morning’s media, Tim Farron and Richard Foord attacked the huge bonuses received by water bosses while sewerage pours into our rivers and seas.

  • Average water company executive pay and bonuses rose by a fifth compared to last year despite 2.7 million hours of sewage being pumped into rivers and swimming spots
  • Average water company executives paid themselves £100,000 more in bonuses alone. Their average annual bonus now stands at over £600,000
  • New Lib Dem figures revealed as hosepipe ban is announced for Thames Water who lose a quarter of all their water due due to leaking pipes going unfixed.

In the week that sewage flowed into Britain’s treasured seaside swimming spots, new analysis of water companies’ Annual Reports by the Liberal Democrats has found that executive pay packets have spiralled out of control.

Next week, millions of Thames Water customers will also suffer from a hosepipe ban despite the company leaking a quarter of all its water from leaking pipes. The firm failed to invest in fixing the leaks, but found over £3 million to pay their execs, an increase on last year’s executive payout.

Combined bonuses and salaries pay packets per water company executive rose by a fifth (21%) from 2020/2021 to 2021/2022. This is a year-on-year average rise per executive of nearly £200,000.

Posted in News and Press releases | Also tagged , , , and | 14 Comments

Vince Cable, One Direction, and a minimum wage rise for apprentices

There was a significant amount of chortling in LDV Towers over the Telegraph’s report of Vince Cable’s comments about One Direction’s earnings. One member of our team even suggested photoshopping his head onto this photo of the boy band wearing onesies.  Mercifully, copyright and lack of photoshopping skills on my part spares you that sight.

Vince thought he was being asked about, I presume, a director’s £5 million salary, which he described as “mad”, “downright immoral” and “grossly offensive”.  It would be hardly surprising that he would take that view given his actions to curb executive pay. He added, …

Posted in News | Also tagged , , , and | 8 Comments
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