Downing Street Says » Network Rail

» Thursday, June 24, 2010

Network Rail

Asked if the Prime Minister felt anything other than disappointment regarding the bonuses at Network Rail, the Prime Minister’s Spokeswoman (PMS) said that disappointment summed up how the Prime Minister felt. The Transport Secretary had released a statement in response; Network Rail was of course a private company, but one that was dependent on taxpayer funding, so we were disappointed that Network Rail executives had accepted bonuses of this scale in the current climate. In a week when everyone had been asked to share the burden of reducing Britain’s deficit, people would be rightly asking how Network Rail’s top executives felt this was appropriate. The upcoming review of the Management Incentive Plan must be far-reaching and fundamental. Bonuses must be earned by exceptional performance, and not be an entitlement.

Asked if the Prime Minister felt that action should be taken, the PMS said that in the current climate, when everyone had to tighten their belts, bonuses of this scale and nature were disappointing. The Transport Secretary wrote to Network Rail some time ago, indicating that they were already handsomely rewarded and questioned whether they should accept their bonuses.

Put that the Prime Minister, when in opposition, said that it was a fiction that Network Rail was a private company, the PMS said that Network Rail was a private company, dependent on taxpayer funding. She referred reporters to the Department for Transport on the structure of Network Rail.

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Network Rail

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