DEBATE: Should taxpayers fund deals for fat cats?
FURY at fat cat pay deals at banks still supported by the taxpayer intensified last night after Northern Rock’s chief executive was handed a “golden goodbye” worth £500,000.
The part-nationalised bank announced yesterday that Gary Hoffman is to quit to join new private-sector bank NBNK Investments.
Because he is joining a rival, he has been put on six-months “gardening leave” and will continue to receive his salary, worth £350,000 over the period, plus pension contributions of £140,000 and a car and petrol allowance of £6,420.
UK NEWS: BANK BOSS QUITS BUT WE PAY HIM TO DO NOTHING
SHOULD TAXPAYERS FUND DEALS FOR FAT CATS?
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