said the Government was taking “immediate action” to stop chiefs trousering huge bonuses while waste was discharged into seas and rivers.Steve Reed said the Government was taking 'immediate action' to stop water company chiefs getting huge bonuses while waste is discharged into seasHe said: “Water executives will no longer line their own pockets while pumping out this filth.
There is growing anger at firms who have paid millions to execs and shareholders while underinvesting in fixing leaky pipes, waste systems and building new reservoirs. Mr Reed claimed the Government’s new Water Bill will make it easier for the regulator to ban bonus payments for bosses if theyThe regulator will also be able to act if firms do not provide adequate consumer service or remain financially sound.An investigation by The Sun on Sunday found that if those bonuses were clawed back more than 20,000 households could be spared a looming water bill increase.
At the moment the maximum penalty on directors is just £300 and regulators have a high “beyond reasonable doubt” burden of proof for even moderate offences.
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