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‘OBSCENE’ PAY OF MOTABILITY BOSS
The boss of Motability will be resigning, eventually, after it was revealed that he is due a £2.2 million bonus on top of his £1.7 million annual salary.
Mike Betts failed to disclose this bonus to the work and pensions committee earlier this year.
A report by the National Audit Office (NAO) also found that Motability has made over a billion pounds in ‘unplanned profits’ in the last ten years by underestimating the resale value of used cars.
As a result disabled claimants have been overcharged by £390 million because the cost of their leases was higher than it should have been.
The NAO has said that Motability should hand over a chunk of its huge £2.62 billion reserves to its charitable arm.
Frank Field, chair of the work and pensions committee commented:
“We knew already that executive pay at Motability Operations was out of control. But the NAO has now uncovered the full extent of it, and revealed that the Chief Executive is in line for a £2.2 million bonus payout, on top of the obscene amount of money he has already been given. This is a man whose income is already more than most people can expect to see in a lifetime. It is beyond appalling to learn that money that could have been used to improve the lives of disabled people will be lining his pockets instead.”