Rail bosses plan to award themselves 125 per cent bonuses

 
Fares rise: research shows average train fares have increased by more than 26% since the start of the recession
Dick Murray23 January 2013

Network Rail bosses are looking at plans for two new bonus schemes which could see them paid up to 125 per cent on top of their salaries.

The revelation comes as much of Britain remains gripped by travel chaos caused by ice and snow on the tracks. An internal NR briefing document, released today by the TSSA transport union, of a company meeting last month details bonus options.

TSSA leader Manuel Cortes called on ministers to halt the scheme which, he said, could see chief executive Sir David Higgins and four executive directors of publicly funded NR earn the awards on top of six-figure salaries.

Sir David’s annual £600,000 salary could jump to £1.35 million if the scheme is approved.

Graham Eccles, chairman of NR’s remuneration committee, said NR recruits about 80 per cent of its leadership from outside and had to provide attractive packages.

Describing the move as “scandalous”, Mr Cortes said: “This is the great train robbery mark two — the inside job.”

A NR spokesman said no decision on bonuses had been made.

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