News - The Scotsman, 22nd July 2009
Fresh call to axe Network Rail bonuses
NETWORK Rail’s members have been urged to reject planned huge bonuses for its senior executives at the company’s annual meeting today.
The Co-operative Party has added its voice to passenger watchdogs, MPs and the rail regulator in calling for the individual pay-outs of up to £372,000 to be scrapped.
Michael Stephenson, the party’s general secretary, said: “In the last year, Network Rail has been found wanting by the public, censured by the (Commons] select committee and damned by its own members in a report that they tried to suppress.
“Despite all of this, Network Rail’s board has decided to pay out bonuses to its senior management totalling more than £1.2 million. If Network Rail’s members cannot challenge or block this, they are clearly a body that is not worth having.”
The party sponsors 29 Labour MPs, including Children’s Secretary Ed Balls and Treasury committee chairman John McFall