Ofcom freezes pay and bonuses

LONDON - Media regulator Ofcom is freezing staff pay and senior executives' bonuses this year, citing "pressure on public finances".

Ofcom: freezing pay and bonuses this year
Ofcom: freezing pay and bonuses this year

It hopes the move will save £900,000.

The regulator said there would be no pay increases for staff in the 2009-2010 tax year.

In addition, members of its five-strong senior executive committee - including chief executive Ed Richards - have agreed they should not be considered for a bonus this year.

Ofcom said its remuneration committee took into account "the negative rate of inflation, the pressure on public finances and the economic circumstances of the many companies within the communications sector where similar action on pay has been taken".

The savings made as a result of these pay and bonus freezes would be returned to the taxpayer and to stakeholders - media industry companies such as broadcaster and telephone companies that pay Ofcom fees in return for their licences.

As at the end of the 2008/2009 financial year, Ofcom employed 853 staff.

According to Ofcom's remuneration report for the 2007/2008 financial year, total remuneration for Ofcom's board - which includes Richards and executives such as deputy chairman Philip Graf - totaled £1,413,159, with bonus payouts of £119,600.

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