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EXCESSIVE BONUS PAYMENTS TO PERSIMMON MANAGEMENT

EDM (Early Day Motion) 966: tabled on 22 February 2018

Tabled in the 2017-19 session.

This motion has been signed by 8 Members. It has not yet had any amendments submitted.

Motion text

That this House notes with great concern that house building firm Persimmon is paying bonuses of more than £500 million to 140 staff, including £110 million to Chief Executive Jeff Fairburn, £86 million to finance director Mike Killoran and £48 million to Managing Director Dave Jenkinson; further notes that these bonuses are being paid at least in part as a result of the Government's help-to-buy scheme, which is paid for with public funding; believes that this £500 million could, and should, have been spent on building social and affordable housing for families which desperately need it; is very concerned that this level of obscenely excessive remuneration is being provided to a company which is engaged in providing a highly needed, essential good with the help of taxpayer subsidies; calls on the Government to consider capping bonus payments for companies which benefit from public subsidies; further calls on the Government to consider whether it would be cheaper and more efficient for the Government to allow councils to borrow to invest in building social housing, rather than to permit huge amounts of taxpayer funds to be grabbed by greedy individuals; and calls on the Government to ensure that private companies are no longer allowed to make vast profits at taxpayers' expense while essential public services crumble for lack of funding.