Even while the Government is trying to apply the brakes, the public sector gravy train rolls on for some overpaid executives.
On Tyneside, 1NG (it stands for Newcastle-Gateshead), the regeneration company handed £4m of funds, has been closed down after just three years over concerns about its success rate. Even the Newcastle city councillor who chaired the scrutiny panel during the company’s existence has condemned its failure.
And as a reward for this lack of success, 1NG's Chief Executive, Jim McIntyre, has been handed an £80,000 pay-off, equivalent to his six-month notice period. And there’s more to come – the rest of the organisation’s 14 staff will receive pay-offs in March, or be re-employed by Newcastle or Gateshead Councils.
This public sector largesse raises (again) some pertinent questions:
On Tyneside, 1NG (it stands for Newcastle-Gateshead), the regeneration company handed £4m of funds, has been closed down after just three years over concerns about its success rate. Even the Newcastle city councillor who chaired the scrutiny panel during the company’s existence has condemned its failure.
And as a reward for this lack of success, 1NG's Chief Executive, Jim McIntyre, has been handed an £80,000 pay-off, equivalent to his six-month notice period. And there’s more to come – the rest of the organisation’s 14 staff will receive pay-offs in March, or be re-employed by Newcastle or Gateshead Councils.
This public sector largesse raises (again) some pertinent questions:
On Tyneside, 1NG (it stands for Newcastle-Gateshead), the regeneration company handed £4m of funds, has been closed down after just three years over concerns about its success rate. Even the Newcastle city councillor who chaired the scrutiny panel during the company’s existence has condemned its failure.
This public sector largesse raises (again) some pertinent questions:
- Why does the boss of a failed organisation deserve a pay-off, as opposed to replacement or dismissal?
- How many other companies do you know of with only 14 employees where the boss is paid a whopping £160,000 salary?
- Was it really necessary to put Mr McIntyre on a six-month notice period?
On Tyneside, 1NG (it stands for Newcastle-Gateshead), the regeneration company handed £4m of funds, has been closed down after just three years over concerns about its success rate. Even the Newcastle city councillor who chaired the scrutiny panel during the company’s existence has condemned its failure.
This public sector largesse raises (again) some pertinent questions:
- Why does the boss of a failed organisation deserve a pay-off, as opposed to replacement or dismissal?
- How many other companies do you know of with only 14 employees where the boss is paid a whopping £160,000 salary?
- Was it really necessary to put Mr McIntyre on a six-month notice period?