Rail fat cats' happy new year: Bosses line up multi-million pound pay deals as passengers face inflation-busting fare rises, delayed trains and strike misery

Mail Online | 12/31/2017 | Richard Marsden And James Salmon For The Daily Mail
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Rail bosses are in line to receive multimillion-pound pay packages this year, as passengers face inflation-busting fare hikes, delays and strikes.

A Daily Mail investigation reveals some executives could earn as much as £5.4million despite a year plagued by engineering works, poor service and the worst strike disruption in decades.

Tomorrow - Passengers - Increase - Cent - Years

Tomorrow, passengers will be hit by an average fare increase of 3.4 per cent – the biggest in five years. It will add hundreds of pounds to the cost of some season tickets.

Travellers buying off-peak fares or planning long journeys could be hit by even bigger rises – up to 10 per cent in some cases.

Bosses - Britain - Rail - Franchises - Seven-figure

Despite this, the bosses that run Britain's biggest rail franchises are set to earn huge seven-figure packages.

Last night, MPs and campaigners called for action to rein in pay and curb fare increases. The row came as:

Pay - Deals - Package - Worth - £2million

The bumper pay deals for 2017/18 include a package worth up to £2million for Great Western Railway's Tim O'Toole and up to £2.5million for Martin Griffiths, boss of Stagecoach, which runs East Midlands and part-owns the Virgin East Coast and West Coast franchise.

Rupert Soames, chief executive of Serco, which operates the Caledonian Sleeper and part controls Merseyrail, is in line for a maximum pay package of up to £5.4million if he hits all his performance targets.

Steve - Double - Tory - Member - Commons

Steve Double, Tory member of the Commons transport committee, said: 'I would expect some restraint … in terms of fare rises.

These executives need to be responsible and their pay needs to reflect the level of service they are delivering.'

Labour - MP - John - Mann - Treasury

Labour MP John Mann, of the Treasury committee, added that it was 'first-class rewards all the way for railway bosses … waiting rooms and extortionate fares for long-suffering passengers.'

Stephen Joseph, of the Campaign for Better Transport, described the rail industry as a 'gravy train', adding: 'It's not much...
(Excerpt) Read more at: Mail Online
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