A joint investigation by trade union, GMB, and Corporate Watch has revealed that Steve Mogford, boss of United Utilities, trousered a total salary package of £2,075,000 in 2018 - a 34% increase on 2013, and has pocketed £14million in salary, bonuses, pensions and other benefits over the past six years.
The huge wage packet is stated in the company's Annual Report on Remuneration, although Companies House records show that the water boss took home £2.3million in 'aggregate emoluments' during 2018. The accounts for 2018 also show that directors in the company received a total of £5.1million in salaries, benefits, bonuses and 'share-based payment charges'; a rise of £400,000 on the previous year.
The outrageous fat cat pay has come under fire at the GMB Congress in Brighton this week as part of the union's Take Back The Tap campaign to bring England's privatised water industry back into public ownership.
While water bosses pocketed such eye-watering sums, consumer water bills in England and Wales have increased by 40% above inflation since privatisation in 1989 according to a report by the National Audit Office...
"Thirty years on from Margaret Thatcher's privatisation of water it's clear this ideological experiment is a complete flop" says Tim Roache, GMB General Secretary "Customers are forking out millions to private water's top brass through their ever increasing bills, while billions of gallons are wasted every year and we get whacked by hosepipe bans in the summer. I'm not sure how much more evidence is needed to show that this is just not working.
"It's time to Take Back the Tap" he adds "Water is a natural monopoly that every home, family and individual needs; it should be in public hands not used for shareholder profit."
For further details on the Take Back The Tap campaign - click here
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