Fred Goodwin’s Second Home Allowance
FORMER RBS supremo Sir Fred Goodwin has agreed to a 50 per cut in his £700,000 pension – “because he wants to return home to Britain from his £4 million French hideaway.”
The Mail goes on:
The former Royal Bank of Scotland chief has been living in a guarded villa on the Riviera because of public anger at his £703,000-a-year income.
So did his villa on the Riviera have a guard before his pension pot was made public and RBS tanked? There is talk of Rottweiler dogs. What? Like this one?
And if guards are an admission of a sensitivity to public anger, what do you make of the coppers outside No.10 on the Downing Street gated development?
RBS today confirmed that Sir Fred’s annual payout will fall from £555,000 to £342,500 a year, after his pension pot is cut by £4.7 million.
Despite leading the bank to the brink of disaster, his overall pension package was worth £703,000-a-year, but Sir Fred has already taken out a lump sum of £2.7 million.
And now for the best part:
Chancellor Alistair Darling said: ‘I’m very glad that RBS have now resolved the matter with Sir Fred Goodwin. I think that Sir Fred, in handing back part of his pension, is doing the right thing.”
Cough. Splutter. Can this be an MP patronising a banker? At least when he returns Fred will be in good company. And talking of second homes:
Sir Fred has reportedly been hiding in a £4million home on the French Riviera.
The 50-year-old has retired with his wife and two kids to a palatial villa on a large gated estate near Cannes.
But he’s coming home, right?
There has also been speculation he could move to South Africa.
That’d serve him right.
Image: Matt Buck
Posted: 18th, June 2009 | In: Money, Photojournalism Comments (5) | TrackBack | Permalink
