Latest report and accounts show highest paid executive was boss Mark Thurston with 拢600k salary
HS2 Ltd made more than 拢1m in redundancy payments last year, its latest report and accounts reveal.
The company tasked with building the high-speed rail between London and Birmingham made 49 redundancy payments amounting to 拢1.3m in the year to March 2018.
They included compulsory redundancies and 鈥榦ther departures鈥� which included three payments of 拢95,000 or more. In 2016/17, the firm made 37 payments totalling 拢1.2m.
HS2 increased staff numbers by 4% last year to 1,350 and has reduced the number of staff working out of London where it was previously based in Westminster and Canary Wharf.
Most of HS2鈥檚 staff in the capital are now working out of new office called The Podium, next door to Euston station, where the main terminus (pictured) for the route in London will be, as well as offices in Birmingham including its main office at Snow Hill.
The report shows that it made 15 relocation payments, including one of 拢50,000 or more, totalling 拢167,000 in the year to March 2018.
The accounts show that the highest paid executive was chief executive Mark Thurston, who picked up 拢600,000 鈥� although the accounts show Alison Munro, who stepped down as managing director of phase two of the project last September, was the only executive to pick up a bonus, being paid 拢23,333 on top of her 拢69,000 salary. Outgoing chairman David Higgins, who steps down at the end of this month, was paid 拢240,000.
The report also revealed that HS2 was the victim of three attempts of fraud 鈥� including a fraudulent application for HS2 Ltd to purchase a 拢1 million property under the Need to Sell scheme.
Need to Sell is a compensation scheme set up by the government if homeowners 鈥渉ave a 鈥榗ompelling reason鈥� to sell but can鈥檛 as a direct result of the announcement of the HS2 route鈥�.
No comments yet