Home Naijamerit News The furlough scheme should never have been allowed to fund million-pound bonuses...

The furlough scheme should never have been allowed to fund million-pound bonuses | Stefan Stern

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JD Sports has handed its chief £6m. It’s clear the Treasury did not attach enough strings to its business life-support scheme

It is windfall time for those lucky few who sit in the shade of the magic money tree. Take Peter Cowgill, for example, executive chairman of JD Sports. He has been paid almost £6m in bonuses since February last year. What makes this huge amount even more shocking is that his company has received more than £100m in government support since the start of the pandemic.

Unlike Primark, which has committed to paying back £121m received under the furlough scheme and business rates relief, and the big UK supermarkets, which will pay back about £1.8bn in business rates, JD Sports has not yet decided whether it will return any furlough scheme money to the government. It wants to wait and see until Covid restrictions are fully lifted.

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from The Guardian https://ift.tt/2V0Ia6i
via Google News

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Author: Naijamerit

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