Following the union’s angry reaction to news of BW Directors awarding themselves bonuses inspite of negotiating a tight ‘no-rise’ pay deal with BW staff and increasing the cost of user licenses, BW’s Board seem surprised that finances were ‘better than expected’.
In a statement, British Waterways BW said its finances last year had ended £9.6m up on the amount planned, due to “better commercial performance and significant savings in cost”.
It said: “As a result, BW was able to maintain expenditure on maintenance and repair at similar levels to previous years despite the government’s cut in grant.”
It added: “The board was delighted with these results and wished to recognise the exceptional contribution made by certain staff, including executive directors.
“Accordingly, and in strict adherence to government guidelines, they decided that capped performance-related payments should be made.
“In total some 215 people 12 per cent of the workforce will receive a PRP payment.”