Water company bosses’ multi-million salaries revealed in ‘national scandal’

NINE WATER company executives were paid £58m over the past five years in a “national scandal”, a union has said, as figures published today reveal the scale of their salaries.

New research by the GMB union and Corporate Watch found the money was made up of salary, bonuses, pensions and other benefits.

It reveals that bosses of England’s privatised water and sewerage companies received £11.3m last year alone.

The union is publishing the figures at its annual conference in Brighton today, as part of its “take back the tap” campaign to bring England’s water industry back into public ownership.

In Yorkshire, the chief executive of Yorkshire Water pocketed £5.9m including salary, bonuses and pensions over the past five years, the research reveals.

It includes £1.3m in 2017 alone.

The average package for the highest-paid executive for a privatised water company in England last year was £1.2m, the study shows.

Tim Roache, GMB general secretary, said: “It is a national scandal over the last five years England’s hard-pressed water customers have been forced to splash out £58 million through their bills to go into the pockets of just nine individuals.

“Privatisation of the water industry has been a costly mistake and these eye-watering sums are further proof the water industry must be returned to public hands. Water is the most natural monopoly and should be in public hands.”

Consumer water bills have increased by 40 per cent above inflation since the industry was privatised in 1989, the GMB said.

A Yorkshire Water spokesman said director salaries are set by an independent committee and comparable within the industry.

He added: “We believe we have a remuneration policy that will enable us to continue to attract people with the necessary skills and experience to manage a business of the size and complexity of Yorkshire Water.”