Funny how things can change in the course of just a few days. The Public Sector Rich List, published by the Taxpayers’ Alliance earlier this week, is already out of date.
Top of the list was Iain Coucher, Chief Executive of Railtrack, closely followed by Adam Crozier, boss of the Post Office, and Channel 4’s Andy Duncan.
But their £1.2 million remuneration packages look insignificant beside the public sector’s latest arrival. Simon Hester, CEO of the newly nationalised Royal Bank of Scotland, makes that amount in base salary alone. Add in the £6.7 million in government backed shares and he leaves the rest of them standing. RBS Finance Director Guy Whittaker is also said to be on fair sized remuneration package too. Once the rest of the unnamed but seriously well paid bank executives are included, the Public Sector Rich List will need to be completely re-written.