04.07.1996

Fat cat of the year

After Cedric Brown, retired boss of British Gas, we have a new challenger for the position of leading fat cat. Sir Desmond Pitcher, chairman of the water and electricity company, United Utilities, has just awarded himself a modest salary increase of £55,000.

His basic is now a trifling £310,000, while a ‘bonus’ of £76,700 lifted his total package (not including perks) to £346,200.

United Utilities was formed out of two privatised companies, when North West Water bought up Norweb, the regional electricity company.

Of course we all know how hard Pitcher and the other gentlemen on his board have worked to ‘earn’ their bonuses, while delivering us all safe, cheap electricity and water. What a pity that 2,500 of the company’s workers are to lose their jobs over the next three years in the bosses’ drive for ‘efficiency’.

While the Labour Party is making as much political capital as it can over these pay hikes, don’t expect it to put a stop to them - or to reverse the attacks on workers’ pay and conditions.

Her Majesty’s Loyal Opposition is just as dedicated to the service of capitalism as John Major and his gang.

Peter Manson