Network Rail: Incentives

Department for Transport written question – answered on 3rd July 2015.

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Photo of Nicholas Soames Nicholas Soames Conservative, Mid Sussex

To ask the Secretary of State for Transport, how much was paid in bonuses to Network Rail executives in each financial year between 2010-11 and 2014-15.

Photo of Claire Perry Claire Perry Parliamentary Under-Secretary (Department for Transport)

The total annual bonus payments in the period requested are set out in the following table. The totals comprise annual and long term incentive payments in each financial year.

Financial year

Total bonus payment

One-off retention payments

2010-11

£283,000

Zero

2011-12

Zero

Zero

2012-13

£1,199,000 (Note 1)

Zero

2013-14

£260,000

£900,000

2014-15

Zero

Zero

By way of comparison, in 2009-10 a total of £2.352million was paid out in bonuses.

Note 1 – The majority of this bonus payment of £1.199million relates to the payment in April 2013 of the first tranche of a Long Term Incentive Plan award for the period covering the three financial years to end March 2012. The Plan was approved by Network Rail’s Members at the July 2009 Annual General Meeting.

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