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MPs ask minister if he will claw back Thames Water executive bonuses

  • MPs have questioned the environment secretary about the possibility of clawing back bonus payments to Thames Water executives after it was revealed that some bonuses had already been paid out.
  • Thames Water's chair admitted that 21 senior managers received a bonus payment equivalent to 50% of their base salary, totaling £18.5 million, funded by a £3 billion emergency loan.
  • The parliamentary committee has written to question the recovery of the payments and seek clarity on whether they fall within the government's ban on bonuses and whether they will be recouped.
  • Thames Water's chair apologized for misleading MPs about the bonuses being insisted upon by creditors and clarified that the lenders did not necessarily propose the bonuses.

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