Water fat cats trouser £58 million as bills soar

Posted by GMB Admin
Tuesday 5 June 2018
GMB Trade Union - Water fat cats trouser £58 million as bills soar

Eye-watering sums come as consumer bills increase by 40%

Figures from our joint investigation with Corporate Watch into company accounts of private water companies also show these bosses received £11.3m in 2017 alone.

The investigation comes as we launch our ‘Take Back The Tap’ campaign to bring England’s privatised water industry back into public ownership. 

The figures show that through a combination of salary, bonuses, pensions and other benefits that the average package for a privatised water company in 2017 was £1,254,000 – a figure that is 6 times higher than the pay and pension of the UK Prime Minister. 

Top of the water industry’s fat cat league was the CEO of Severn Trent who took home a staggering £2,450,700 in 2017 and a 50% increase since 2013. Close behind is the CEO of United Utilities who splashed out £2,310,000 on their CEO in 2017 -  a 49% increase since 2013.

While water bosses pocketed these eye-watering sums, consumer water bills in England and Wales have increased by 40% above inflation since privatisation in 1989 according to a report by the National Audit Office 

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.

GMB is urging people and politicians to Take Back the Tap and make our water services work for the many and not the few. Water is the most natural monopoly and should be in public hands.

Tim Roache, GMB General Secretary

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