Bonuses flow for the fat cats at Thames Water

While it is looking unlikely that we will be facing a drought this summer after a wet June, Thames Water are clearly not running dry of money either.

In fact, the bonuses have been flowing at Thames Water where last year three directors are reported to have received £1m.

The company’s chief executive received a bonus of £662,000 – more than four times his annual salary  – taking his total renumeration to £823,000.

That bonus would take the average worker more than 20 years to earn!

Why the chief executive of a privatised water company running a monopoly operation should warrant such a huge renumeration package defies any reasonable explanation.

Unfortunately for the company’s customers they have nowhere to go… the fat cats are getting fatter and it’s those on average earnings or below who are paying the price.