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The Tories and their newspaper editor supporters are telling us that "We are all in it together". Well we are definitely "in it" but not this lot, they are rolling in it.
Strange how we are always "in it together" when the economy is in a mess. These are the same bunch that tell us to expect massive cuts in services and wages while they continue to wax it rich.
Paul Dacre, editor of the Daily Mail and director of the company that owns it, picked up £1.64 million last year, the accounts show.
Dacre was one of five directors to earn over a million in the financial year ending September 2009.
His basic salary rose by a very healthy 3% to £1.13 million and he also received a cash allowance for his pension and help towards the cost of his accommodation in central London worth £479,000 along with benefits in kind worth £54,000, making a total of £1,635,000.
The Daily Mail and General Trust’s (DMGT) 2009 remuneration report also reveals that Dacre, having reached the age of 60, began taking his pension
benefits, including a lump sum payment from the executive pension fund on 14 November 2008. His pension is at least £583,000 a year, according to
the report. Padraic Fallon was the highest paid director of the group on £3.46 million —down from £4.28 million the year before. The fall was largely as the result of a smaller bonus/profit share as chair of the DMGT subsidiary Euromoney International Investor, which publishes the lucrative Euromoney magazine.
Viscount Rothermere, chair of DMGT, saw his pay almost double (+87.4%) to £1.32 million. The rise was largely due to a bonus/ profit share being paid this
time around when none was paid the year before.
www.dmgt.co.uk/docs/annual-report-09.pdf
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