‘Insulting’ fats cat bonuses at polluting water companies may very well be banned after sewage scandal | UK | News | EUROtoday
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Controversial bonuses paid to bosses of water companies that illegally spill sewage into rivers and seas may very well be banned.
Campaigners throughout the political spetrum have lengthy known as for the “insulting” monetary incentives to be blocked after leaders on the firms pocketed greater than £26million in bonuses and advantages over 4 years.
Senior executives from 5 of the 11 water firms that take care of sewage took bonuses final 12 months – simply as companies are planning to boost prospects’ water payments by £156 to assist pay for funding to forestall extra sewage spills sooner or later.
Environment Secretary Steve Barclay now appears to be like set to dam payouts within the 2024-25 monetary 12 months.
Regulator Ofwat will seek the advice of on particulars of the proposed ban later this 12 months, which may apply to chief executives and govt board members.
Mr Barclay stated: “No one should profit from illegal behaviour and it’s time that water company bosses took responsibility for that.
“Tougher motion is required to handle poor efficiency by water firms, which is why I’m happy Ofwat goes additional right this moment on bonus funds.
“In cases where companies have committed criminal breaches there is no justification whatsoever for paying out bonuses. It needs to stop now.”
An Ofwat spokesman stated: “We introduced new measures last year to ensure that executive bonuses are linked to delivering better outcomes for customers and the environment.
“Today’s announcement builds on that strategy however takes it even additional. We will seek the advice of on the element of the proposals later within the 12 months.”
Lib Dem environment spokesman Tim Farron said: “Finally, ministers have buckled to a marketing campaign led by the Liberal Democrats over two years in the past however, even now, this try to ban bonuses sounds too weak and feeble.
“The public has looked on in fury as Conservative MPs defended these disgraced water firms and refused to crack down on insulting bonuses.
“Every day, these polluting and profiteering companies get away with environmental vandalism. The bonuses must be banned right this moment, no matter felony conviction.”
Labour’s Shadow Environment Secretary Steve Reed said: “Once once more Labour leads, the Conservatives comply with.”
“Labour known as for the water regulator to be given new powers to dam bonuses for polluting water bosses final 12 months. After doing nothing for 14 years, the Conservatives have now been shamed into adopting Labour’s plan.”
“But they have to go additional and again Labour’s complete plan to scrub up our rivers, and make sure that executives who’re liable for repeated unlawful sewage dumping, face felony costs.”
https://www.express.co.uk/news/uk/1865575/water-sewage-pollution-scandal-bonus-ban