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Posted By admin On 04/08/22
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The bosses of two of Britain's biggest gambling firms have refused to take pay cuts despite using taxpayer money to prop up their businesses. William Hill is benefiting to the tune of greater than £5m per month from the wage subsidy scheme and the enterprise charges vacation, while Paddy Power is saving £400,000 monthly in business rates. The businesses' bosses have been slammed for failing to observe the lead of rivals by taking pay cuts, as a manner of sharing the ache caused by the coronavirus pandemic with taxpayers and low-paid employees. Ladbrokes' boss, Kenny Alexander, has damaged ranks by chopping his full £816,000 wage by 20 per cent for three months and ditched his 2020 bonuses, after this newspaper reported his firm was benefiting from £20m of taxpayer help per thirty days. But Ulrik Bengtsson, the boss of William Hill, will keep his full £600,000 wage this yr, and has as a substitute only supplied to cancel a planned pay rise and his annual bonuses. His agency is using the wage subsidy scheme to pay the vast majority of the 8,000 workers who are staying at house from its 1,568 shuttered retailers. Peter Jackson, the boss of Paddy Power's proprietor Flutter, can even keep his £737,000 salary regardless of his company benefiting to the tune of £400,000 per month from the business charges vacation. The 44-yr-outdated was, however, praised for choosing to pay employees in its 350 UK shops who are usually not working, despite his agency being eligible for the furlough scheme. The wage subsidy scheme permits companies to claim 80 per cent of their workers' salaries, up to a most of £2,500 per thirty days, if they aren't working. This week MPs said their failure to take a pay reduce whereas accepting taxpayer handouts was 'shameful'. Shadow Treasury Minister Wes Streeting MP stated: 'It's really vital that top-paid bosses are main by instance, and the place they are asking the workforce to take a success that this pain is being felt by everyone. The schemes want to be used responsibly. Sooner or later we are all going to have to face as much as the associated fee of those extraordinary and vital measures. Bosses at Betfred and casino group Rank have taken pay cuts after furloughing staff, whereas online operators Bet365, Betway and 888 haven't wanted to make use of Government assist. Bosses at Skybet have taken a pay minimize despite not using the help. William Hill mentioned 'along with other retailers' it is 'grateful' for the government help for jobs. Flutter declined to remark.
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