NETWORK RAIL ANNUAL BONUSES

That this House notes that Network Rail has been found by the Office of Rail Regulation (ORR) to be in breach of its licence and that, according to the ORR, `major asset failures, congested routes and poor management of track condition' contributed to poor performance of the UK rail network in 2011; welcomes the statement by the Secretary of State for Transport reported in The Daily Telegraph on 19 December 2011, that `Passengers would be extremely surprised if Network Rail attempted to award bonuses next year in the light of this action by the ORR'; further notes that Network Rail members, at their meeting on 10 February, are to be asked to confirm annual bonuses for directors equivalent to 60 per cent. of their annual salary, resulting in a 340,000 bonus for its chief executive; and calls on the company's directors to reject these bonuses.