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Network Rail accused of "rewarding failure" with £600k bonus for 4 bosses

 from: http://www.express.co.uk/news/uk/390715/Rail-chiefs-600-000-bonuses-reward-failure

Rail chiefs' £600,000 bonuses 'reward failure'

NETWORK Rail was accused of "rewarding failure" yesterday after giving four bosses taxpayer-funded bonuses totalling more than £600,000.

By: John Ingham
Published: Wed, April 10, 2013

Network Rail has been accused of "rewarding failure"

The already highly-paid directors were given the cash despite the state-backed firm missing punctuality targets.

They are pocketing the bonuses after passengers saw fares rise above inflation in January for the 10th year on the trot. The leader of the rail union TSSA, Manuel Cortes, slammed the payout as a new "Great Train Robbery".

He said: "This is rewarding failure on a grand scale. For the second year running, NR has missed its punctuality targets and still awarded massive long-term bonuses.

"As passengers faced a 4.2 per cent fare increase in January, they will be puzzled why the people who cannot make their trains run on time are rewarding themselves with taxpayers' money. This is yet another Great Train Robbery."

Earlier this year Network Rail was threatened with fines of up to £55million unless it improves its punctuality, with the rail regulator slamming its "poor" performance.

Since then, services on busy routes have been hit by cancellations and serious delays due to problems with overhead lines. The firm manages the UK's 20,000-mile rail network and is a not-forprofit company.

It gets about £4billion a year from the taxpayer while the Government also guarantees its £28million debt.

Network Rail said under its incentive plan bosses were entitled to 100 per cent bonuses. It dismissed TSSA's claims that it had used yesterday's announcement of Baroness Thatcher's funeral "to bury bad news".

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