Northumbrian Water (No.2)

EDM number 2364 in 1992-93, proposed by John Cummings on 21/07/1993.

That this House notes with concern the pay rises and perks given to the company bosses of Northumbrian Water Group; notes that the Chairman received salary and pension benefits of ú102,000, an increase of 18 per cent. over the previous year, the Director and Chairman-designate received ú120,000 in salary, bonus, pension and other benefits and that he exercised his option to buy 58,475 ordinary shares in Northumbrian Water Group at a discount of ú2.72 on the market value of each share, netting him a profit of ú159,052 in addition to his salary and perks at a time when customers are struggling to pay a 9 per cent. increase on top of a 10.3 per cent. increase in water and sewerage charges last year; and calls upon Her Majesty's Government to ensure that such blatant profiteering and exploitation of Northumbrian Water Group customers ceases forthwith.

This motion has been signed by a total of 45 MPs.