Housebuilding boss Jeff Fairburn is to receive a staggering £132 million bonus after his firm profited from the Help to Buy schemeA housebuilding boss given a staggering £132 million bonus after his firm made vast profits from the Help to Buy scheme saw the payout swell by another £1 million in just three days last week. Jeff Fairburn, chief executive of Persimmon, receives the first £53 million chunk of the bonus today and has now learned he will pocket the extra £1 million after a rise in Persimmon’s share value. More than 50 per cent of Persimmon’s sales are through Help to Buy. Liberal Democrat leader Sir Vince Cable has branded Fairburn’s bonus ‘obscene’, while former Tory Minister Steve Norris said it was ‘hard-pressed taxpayers’ who had made Fairburn and other housebuilding bosses so rich. The coverage prompted the resignations of two Persimmon directors, including chairman Nicholas Wrigley, who is understood to have asked Fairburn to give some of his bonus to a housing charity.

Source: Daily Mail December 31, 2017 01:30 UTC