Massive pay increases for 'greedy' corporate bosses
THE chairman of British Gas came under fire for accepting a pay rise 10 times the rate of inflation on June 21, 1991.
Robert Evans had been given a 66 per cent increase, taking his salary from £222,000 to £370,000.
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The Way We Were. The chairman of British Gas, Robert Evans come under fire for accepting a pay rise ten times the rate of inflation. June 21, 1991.
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 in May of ripping off its customers when it reported a 42 per cent surge in pre-tax profits. British Gas was a privatised monopoly, and had no competitors.
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 was not the only boss revealed in recent weeks to have been given a huge salary increase.
Prudential's Mick Newmarch enjoyed a 43 per cent boost. Ian Prosser, of Bass, took 45 per cent more, Natwest Bank's Howard MacDonald 60 per cent, and Tesco's Sir Ian McLaurin a massive 330 per cent.











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