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Ex-Mayor Livingstone

Evening Standard picks up 112 £100K earners story

Yesterday the Evening Standard picked up the story I covered on Tuesday about the explosion in highly paid people at TfL, see previous posting. A shortened version of their story is available on-line here.

The Evening Standard’s Ross Lydall has done a good job. He has got to the bottom of the restatement of these figures. In the TfL Annual Report (page 74) it said the figures were restated but did not explain why. Lydall found out the following:

TfL reported in last year’s accounts that 76 employees earned £100,000 or more. But the figures have been “restated” this year to show there were 90 six-figure earners in 2005/06 when employees’ pension contributions are included.

So let’s get this right. Last year’s figures were deceitful because they excluded employees’ pension contributions, NOT employer’s pension contributions. Most people understand their salary as being what they receive before deductions. This was yet another attempt by TfL to tell lies. I don’t know whether this culture of lying comes from the Mayor or TfL but it seems to be a widespread problem.