Rail bosses criticised for "extraordinary" bonuses


Rail bosses criticised for
Three Network Rail bosses have been criticised by a group of MPs for receiving bonuses of £200,000 each despite major engineering overruns this year.

A report from the Commons transport select committee found passengers were "inconvenienced and humiliated" after delays in the New Year caused by engineering work overruns at Rugby, Liverpool Street and Glasgow Shields Junction.

The rail regulator fined the company a record £14 million for the delays.

MPs blamed management failings for the delays, which affected thousands of commuters returning to work after the Christmas break and said the large bonuses were "extraordinary" and add "insult to injury for the long-suffering passengers".

Network Rail's chief executive, Iain Coucher, said: "We are disappointed by the comments in the transport select committee report which do no reflect the pivotal role Network Rail has played in turning around the railway from the mess inherited from Railtrack.

"Since New Year we have invested over £2 billion in thousands of projects across the country applying the lessons from the unacceptable over-runs at New Year."

Mr Coucher will be receiving a £305,000 bonus this year, according to the report.

The report called for action to "prevent generous bonuses being handed out for good performance in some areas against a background of catastrophic failure in others".

MPs were also concerned that the cost of running the railways is shifting more towards the passenger and away from the taxpayer.

The shift should happen over a longer period than has been planned, the report said.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure