Network Rail chief to waive bonus

Network Rail chief executive Iain Coucher has said he will not take any bonus this year.

Last year Coucher took more than £500,000 on bonuses but he is reported to have written to Network Rail's remuneration committee to inform them that he does not want to be considered for a bonus this year.

Coucher said: "I want to be able to talk freely about Network Rail's story of success and how it has delivered for passengers not just last year but over the last five years without this story being clouded by controversy. In the last 12 months we met or exceeded almost all of the tough targets set for us by our independent regulator."

"I know that there is much more we need to do to deliver a consistently high quality service to all rail users and I am committed to doing just that in the coming years.

"As a result of everything the industry has done, we now have a railway carrying a record number of passengers on a record number of trains. Passenger satisfaction at 83% has never been higher, 91% of trains arrive on time - the highest national figure ever recorded. Travel by train has never been safer and is now the safest form of transport and we have reduced by £1 billion a year for the British people the cost of running the railway."

He went on: "Nonetheless I am mindful of current sentiment, so I have taken a personal decision to forego any annual bonus this year. The success of our company and its hard-working people must have the opportunity to be seen and heard."

Network Rail's annual report will give details of other bonuses when it is published in June.