Severn Trent Water slammed as execs rake in £4.9 million
Liberal Democrat Parliamentary Candidate for Kenilworth & Southam, Jenny Wilkinson, has slammed “eye-watering payouts” as the party reveals Severn Trent Water paid their executives £4.9 million 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.
Severn Trent Water has rewarded their 2 executives with a staggering £1.2 million in base pay in 2022/23, with bonuses and pensions taking their total reward to £4.9 million. This is despite the firm pumping raw sewage into the local area, including the rivers Leam and Avon.
Since 2020, executives at the water firm have paid themselves £15.1 million in pay and perks.
The local Liberal Democrats have called for a ban on all CEO bonuses within the water industry, as well as the firms to be reformed as “public interest companies”. The reforms would put an end to profit before the environment and ensure their boards include environmental experts.
“Our local waterways are being pumped full of raw disgusting sewage, all whilst the water firm hand themselves insulting pay-outs. The whole thing stinks. These salaries and perks have reached eye-watering levels, yet Conservative Ministers refuse to act."Jenny Wilkinson
“I was shocked that there was literally no mention of sewage in the King’s Speech.
“It is time to reform Severn Trent Water so it no longer puts profit before the environment. The firm is clearly not working how it should 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. This is a scandal and happening on this 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."