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Lee
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Branson Gets £24m Payout
« on: December 27, 2007, 03:55:52 PM »

Sir Richard Branson has pocketed a £24m payout from Virgin Rail as his passengers face fare rises of up to 9% and some of the worst punctuality rates in the country (link below.)
http://www.rmtbristol.org.uk/2007/12/branson_gets_24m_for_running_l.html#more

Branson and Virgin Rail’s other main shareholder, Stagecoach, are sharing a dividend of nearly £48m, more than double the firm’s profits.

Virgin Rail says the payout reflects its success in attracting more passengers. However, Branson has been accused of exploiting government handouts for the railways. “He is stripping the company of cash while saying at the same time I need more public subsidy,” said Richard Murphy, director of Tax Research, an independent consultancy.

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