Thursday, April 5, 2012

Water bosses pocket huge bonuses and hand shareholders massive payouts

The Daily Mail reports:

Four million pounds in bonuses have been paid to the directors of water firms – despite their failure to repair leaks which allow 300million gallons to be lost every day.

All but one of the companies, which today brought in hosepipe bans for 20million customers, handed rewards to their board members in the last financial year.

These include £2million for three executives at Britain's largest water supplier Thames Water, whose highest paid director, understood to be chief executive Martin Baggs, took home £1.67million in 2010/11.

More on this story here.

It surely is time to renationalise water and end this great privatisation rip-off.