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Million pound rail boss salary "an insult to passengers"

5 September 2013

Transport Minister Patrick Macloughlin was accused of "insulting rail passengers" after agreeing a £1 million plus salary package for NR's new boss Mark Carne today.

"At a time of ever increasing rail fares, and falling wages, we think this is an insult to rail passengers who have seen price rises of 20% since May 2010," said TSSA leader Manuel Cortes.
 
"We are all living through the age of austerity, according to this Government. Mr Macloughlin turned a deaf ear to our protests about NR directors bonuses in the summer and now he is showing a tin ear to what he is now paying the new boss at what is in effect a publicly owned company.
 
"We don't blame Mr Carne for taking the money but he should never have been offered it in the first place."
 
Mr Carne, now on a basic £675,000 salary, can earn 60% on top of that as an annual bonus and a further 100% from a three year long term bonus from 2015. *
 
"It is passengers who should be rewarded with lower fares, not directors for joining a gravy train paid for by every taxpayer in the land."

 

* Network Rail insist that the new chief executive will not recieve any annual or long term bonus before 2015. He will also not receive a £300,000 retention bonus being paid to three other executives next year, Robin Gisby, Simon Kirby, and Patrick Butcher, on top of their annual bonus of up to 60% of salary and their long term bonus of up 100% of salary.

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