Executive receives money; consequences remain scheduled
A water company executive has been paid a larger amount of money than last year, despite a rule designed to prevent executives being paid larger amounts of money. The rule banned bonuses; the increase was a salary. These are different words.
Across the sector, similar arrangements proceed: one chief received £500,000 from a parent company as 'retention', another £660,000 by the same route. The regulator has responded by announcing it will require the payments to be written down in documents. The documents will be published annually. You will not read them. Neither will we.
A union has stated the public is sick of obscene pay. The public was consulted via the traditional method of not being consulted. Bills will rise 21% over five years regardless, which was also traditional.
The sewage, the pay, the outrage, the review: all four will return next year in the same order, like migratory birds. Analysts were stunned that things proceed. Nothing happened today. Correct — and it cost £791,000.