Double standards - Narrowboat World
Allan Richards has written a very interesting piece comparing the renumeration of the British Waterways board with the National Trust. It starts:
There is a growing dichotomy with regard to British Waterways directors salaries, considering themselves to be underpaid.
The directors reinforce this claim with a consultants report which suggests that they are underpaid by about 15% per year. The reason for this shortfall is that they have no long term incentive plan. They have spent the last year planning to introduce one!
On the other hand there is the rest of us who accuse British Waterways directors of being 'fat cats' with 'noses in the trough' (which suggests pigs rather than cats!) or 'riding the gravy train'. We are not alone! The man who will probably be the next prime minister, David Cameron, in a speech at the Conservative Spring Party Conference named five public sector workers he claimed were getting rich at the publics expense. Four of those named were BW directors!
He points out that BW's 'governance costs' (I presume that means directors' fees; I'd not heard that term before) are nearly double that of the National Trust. This is in spite of the NT raising all its income privately, whereas BW gets a substantial portion from central government.
I'm not sure I'm entirely in the 'On the other hand there are the rest of us' category - the comparisons perhaps are a bit shaded and grey. BW is a satrapy; its directors are to a certain extent reliant on the grace and favour of the government departments to which its beholden, and must walk a tightrope. And bizarrely as it might seem - as with the satraps of old - they would probably curry more favour with Her Majesty's ministers if they are pampered more.
That's my interpretation, anyway. But Allan Richards makes a compelling and well-reasoned argument in a compact space.
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