£306,883 plus £2 million pension pot
FOR IMMEDIATE PUBLICATION
Full details have been released of the massive financial package given to Paul Gray, the former Chairman of HM Revenue and Customs (HMRC) who resigned over the loss of computer discs containing the personal details of 25 million people. HMRC's annual accounts, which have just been published on 14 July 2008, reveal that Mr Gray:
- Earned £120,000 in salary in 2007-08.
- Received a lump sum pay-off of £137,591 on resigning.
- Is currently being paid over £7,000 a month until his retirement on 2 August 2008 - in seven monthly payments totaling £49,292 this year.
- Has a pension pot totalling over £2 million.
That brings his total cash payment from April 2007 to 2 August 2008 to £306,883, plus a pension pot of £2,021,000.
Matthew Elliott, Chief Executive of the TaxPayers' Alliance said:
"This is disgraceful - HMRC let down millions of people by losing their private information and we now know that the whole organisation suffers from serious structural and procedural failings. There's no way that the man who oversaw this chaos should be being rewarded with such a generous severance package. This is a shocking example of the culture of rewards for failure that bedevils the public sector and leads to mistakes being repeated over and over again."