Private Eye: Thatch Roofs
June 29th, 2010
Some time ago, earlier this year while I was doing some internet research about Hammersmith and Fulham I came across a table showing the salaries of the Chief Executives of Housing Associations. They are substantial. A few weeks ago on one of my many architectural trips into the capital I met a couple on the train, quite posh, retired who were about to dispose of a copy of that weeks Private Eye. Understanding it was headed for the bin I said “would you mind if I read it instead please?” to which they agreed and on p.3 I found this article.
Ministers were quick to reveal that 50 housing associations pay their chief executives more than the prime minister. But they may be a bit slower to do anything about it.
Associations are classed as private sector organisations despite receiving billions of pounds in development grants and housing benefit payments from the taxpayer. That enables them to raise billions more in private finance to build homes without any impact on public borrowing, and to style themselves as independent businesses that have to pay the going rate to attract and retain the best people.