Clive Jones, the Liberal Democrat Parliamentary Candidate, has slammed “eye-watering payouts” as the party reveals Thames Water paid their executives £2,415,000 in pay and perks last year.
New analysis of Company House records has revealed the country’s water industry paid out a staggering £10 million in executive salaries last year, the highest on record.
Thames Water has rewarded their top 3 executives with a massive £1,525,000 in base pay, as well as additional bonuses and pensions totalling £890,000. This is despite the firm pumping raw sewage into the local area, including the River Loddon and at least 72 bn litres into the River Thames since 2020.
Since 2020, executives at the water firm have paid themselves £8,553,000 in pay and perks.
Clive Jones has previously called for a ban on all CEO bonuses within the water industry, and for the firms to be reformed as “public service companies”. The reforms would put an end to profit before the environment, and ensure their boards include environmental experts.
Clive Jones, the Liberal Democrat Parliamentary Candidate for Wokingham, said:
“Our local waterways are being pumped full of disgusting raw sewage, all whilst Thames Water hand themselves eye-watering pay-outs. The whole thing is an insult yet Conservative Ministers refuse to act.
“I was shocked that there was literally no mention of sewage in the King’s Speech.
“It is time to rip up Thames Water so it no longer puts profit before the environment. The firm is clearly not fit for purpose, and is not listening to local concerns on sewage discharges.
“This country’s water industry has become a gravy train where sewage and money flows freely. It’s a scandal and it’s happening on this Conservative government’s watch.
“When will Conservative Ministers finally get tough on these polluting and profiteering firms?
“These bonuses and perks need to be banned as long as the sewage scandal continues. Bonuses should be a reward for success, not committing environmental crimes.”