Savers can only dream of big bonuses

Skipton.

GOOD to know that the retiring CEO of Skipton Building Society and his directors will not have to worry about keeping warm this winter, while SBS savers face losing various extremities due to frostbite after they run out of furniture to break up and burn as a result of the pathetic interest they earn on their money.

SBS boss David Cutter, who stepped down immediately after the Society’s AGM on April 25, rides off into the sunset or rather the sunshine – as he will be able to buy his own tropical island – with a final bonanza pay packet for 2021 of £1,309,000, a £622,000 “performance” bonus on top of his basic salary of £599,000. For comparison, despite Skipton Building Society’s business being around a tenth of the size of the country’s largest one, Nationwide, that Society’s boss received £1,236,000 for the year to April 4, 2021.Never mind, us lesser mortals can count our blessings – while we still have the fingers to count with! that the cost of renewable energy production has plummeted in the last decade due to improving technologies, economies of scale, competitive supply chains and industry experience.

On the other hand, the cost of fossil-fuel electricity generation recently tripled in just one year making even recently available comparisons well and truly out of date.

I accept there are hidden costs in renewable generation but these are because we haven’t invested in energy storage solutions despite improvements in technologies, such as green hydrogen, being reported on a monthly basis. On the other hand, much greater “hidden costs” of fossil fuel will be caused by global warming in decades to come. That is not the legacy I want to be remembered by.