| 21 June | ||
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1991: Anger over chairman's 66% pay rise The chairman of British Gas has come under fire for accepting a pay rise ten times the rate of inflation. Robert Evans has been given a 66% increase, taking his salary from �222,000 to �370,000. The Labour Party condemned the rise as "sheer unbridled greed". Trade unions for British Gas workers said their members would remember the increase when putting in next year's pay claim. The company was accused last month of ripping off its customers when it reported a 42% surge in pre-tax profits. British Gas is a privatised monopoly, and has no competitors. 'Corporate greed' Labour's energy spokesman, Frank Dobson, said: "It is a symptom of corporate greed. "They think that now there are no restrictions on them they can do what they like, and in a sense they can". Defending its decision, British Gas said the chairman's increase was related to the overall performance of the business. Mr Evans is not the only boss revealed in recent weeks to have been given a huge salary increase. Prudential's Mick Newmarch enjoyed a 43% boost. Ian Prosser, of Bass, took 45% more, Natwest Bank's Howard MacDonald 60%, and Tesco's Sir Ian McLaurin a massive 330%. |
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