BOSSES at Thames Water face a fresh grilling by MPs over bonus payouts from a £3billion rescue loan.
The stricken utility firm dished out £2.5million to senior execs despite attempts by ministers to block the payments.
Documents released yesterday by the environment select committee reveal Thames paid £2.46million to 21 managers on April 30.
It was the first of three bonuses due under a management retention scheme.
Thames paused that in May amid a backlash over the planned £18.5million in bonuses being paid from a government loan.
Environment Secretary Steve Reed had been asked to claw back the payments.
But in a letter to the Commons committee, Thames chairman Sir Adrian Montague said the board did not intend to recover the money.
In another letter to the committee, industry regulator Ofwat said rules limiting bonuses only apply to those at the very top of the company.
Boss David Black said that as a result, “the payments made on April 30 fall outside the scope of the rule”.
The committee has now recalled Thames bosses for questioning next week.
MPs will also demand answers on why private equity firm KKR withdrew from a £4billion rescue deal.
Thames Water, heavily in debt and serving 16million customers, said it is now negotiating with “certain senior creditors”.
ReutersBosses at Thames Water face a fresh grilling by MPs over bonus payouts from a £3billion rescue loan[/caption]
PARKING FINES ROCKET
PRIVATE parking firms are set to issue 14.5million tickets in a year, a study says.
The RAC said requests to the DVLA for driver data hit 7.2million in six months — up 12 per cent on the previous year.
At this rate, drivers face daily fines totalling £4.1million, the organisation said.
It blamed faulty machines, aggressive tactics and misleading signs for the increase.
Five firms, including Parkingeye and Euro Car Parks, account for nearly half the tickets.
The previous Government promised a new code of practice in 2019, but regulations have been delayed.
HOMES BOOST
SEVEN major housebuilders have agreed to pay £100million to support affordable housing across the UK following a probe.
The Competition and Markets Authority found signs firms including Barratt Redrow, Bellway, and Taylor Wimpey, shared sensitive information which could have impacted housing prices.
The payment is the largest secured by the CMA and will fund hundreds of homes.
JET2 HOLS JOY
JET2 has reported booming sales, with a 12 per cent rise in passenger numbers to 19.77million over the past year.
The airline and holiday provider saw revenues jump 15 per cent to £7.17billion, driven by demand for last-minute getaways.
Package holiday bookings grew by eight per cent, while flight-only customer numbers also surged. Profits before tax rose 11 per cent to £577.7million.
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