So Network Rail’s directors have been given their bonuses… but only just.
As only 54 per cent of the company’s AGM voted the payments through, I think it is fair to say that not everyone was happy with the idea that the leaders of Network Rail were being handed payouts which meant that directors’ salaries were effectively being doubled in some cases, whilst the company faces massive maintenance cut backs.
Given that the McNulty report found that organisation represented fairly poor value for money to the taxpayer, it is astonishing that Network Rail’s top brass think they deserve such treatment.
They seem to be a remnant of the New Labour idea that just because an organisation receives taxpayers’ money, it doesn’t mean it can’t waste that money on its executive elite.
(Image courtesy of Smith Myles) 
