Monday, June 1, 2009
Is today 1st April rather than 1st June?
The FSA paid its staff Â£19.7m in bonuses last month, a 40 per cent increase on last yearâ€™s payouts, according to figures obtained by the Liberal Democrats. A Freedom of Information request revealed that Â£4m went to executives earning over Â£100,000 and one employee received a bonus of Â£90,000. The average bonus paid to regulator executives was Â£19,100, while the average for other staff was Â£4,107. Liberal Democrat shadow culture, media and sport secretary Don Foster says: â€œThe size of some of these pay outs would be hard to justify at the best of times, but it looks especially bad in the current economic climate. â€œRegulators must now follow the lead of those in the rest of the public sector who have promised to freeze executive pay.â€