theguardian_business

Water bosses’ pay rises despite bonus ban and public fury over bills and pollution

📰 source: theguardian_business · 💼 business

water company bosses' total pay rose 1.5% to £25.3m in the past year, despite a government bonus ban and public fury over bills and pollution. specific examples include mark thurston of anglian water getting £1.9m including a £500,000 retention payment, and louise beardmore of united utilities receiving £2.5m, up £1.1m.

eight companies expect to be covered by the bonus ban for 2025-26. companies used loopholes like retention payments and salary increases that they claim aren't bonuses. the high pay centre says the ban hasn't gone far enough.

the news adds pressure on andy burnham to push for public control, with thames water near insolvency. ofwat will confirm which companies are banned in autumn, and defra said any circumvention is unacceptable.

why it matters: bonus ban loopholes allow water executives to profit despite pollution and bills, fueling calls for public ownership.

source: theguardian_business
sentiment: -0.50 · impact: 0.30

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