Sick & disabled to be targeted in massive welfare changes.
Discussion
techguyone said:
I tend to look beyond PR as that tends to bite you in the ass later and make you look rather stupid, as do sensation dribbling headlines.
In truth, the 1.7 mill seems a tad excessive... but motability the organisation & the charity seem to be performing well (don't throw the 2.4 billion operating budget at me please) so why not pay a good price for a performing leader.
I guess it depends on what you seem a "good price" for something like this.In truth, the 1.7 mill seems a tad excessive... but motability the organisation & the charity seem to be performing well (don't throw the 2.4 billion operating budget at me please) so why not pay a good price for a performing leader.
Also, whether the 2.4bn reserve is the right amount warrants a quick external look. This isn't "their" money, nor really the claimants'. 200,000 new cars per year, 650,000 customers so say 450,000 with servicing requirements? (Broad brush). Worth looking at what the reserves are set aside/used for.
amusingduck said:
It's not their operating budget though, is it.
They have been under spending their budget by £200m/yr, and now find themselves with £2.4bn in reserves.
Or is it...?They have been under spending their budget by £200m/yr, and now find themselves with £2.4bn in reserves.
The article above said:
In a statement issued on February 6, Motability Operations said: ‘The Daily Mail claims there is a £2.4 bn ”cash stockpile” or ”spare £2.4bn”.
‘It’s quite clear to us that the Daily Mail has totally misunderstood what this £2.4 billion of reserves represents. It is not held as cash but is used to buy cars for disabled people. This reduces the amount of borrowing required.
‘It also underpins the scheme’s financial stability, protecting it from the business risks it faces, particularly in relation to used car values. The Charity Commission has today stated ”that we consider the level of operating capital held by the company in order to guarantee the scheme to be conservative”.’
How much of this £2.4bn is in cash, and how much is the asset value of vehicles owned by the operations company?‘It’s quite clear to us that the Daily Mail has totally misunderstood what this £2.4 billion of reserves represents. It is not held as cash but is used to buy cars for disabled people. This reduces the amount of borrowing required.
‘It also underpins the scheme’s financial stability, protecting it from the business risks it faces, particularly in relation to used car values. The Charity Commission has today stated ”that we consider the level of operating capital held by the company in order to guarantee the scheme to be conservative”.’
The original version of that statement includes a sentence which the article omitted...
The actual statement said:
The company’s reserves of £2.4bn are not held in cash but are entirely invested in its fleet of around 630,000 cars.
https://news.motability.co.uk/scheme-news/motabili...That changes the picture substantially, doesn't it?
As for the £1.7m "pay"...
A different article said:
In the latest accounts for Motability Operations Group, the highest-paid director was given a basic salary of £549,258 and performance-related payments of £262,624.
The accounts, which were published last month, reveal that Betts also received £137,314 of payments in lieu of pension and £25,057 in benefits, which gave total emoluments of £974,253.
But notes in the accounts show that a long-term incentive scheme resulted in a further £726,617 being paid to Betts, which means he earned £1.7m for the year covered by the accounts.
The accounts say that the LTIP scheme was closed in December 2015, but it is a three-year scheme and will continue to be paid until the end of 2018.
https://www.thirdsector.co.uk/regulator-warned-mot...The accounts, which were published last month, reveal that Betts also received £137,314 of payments in lieu of pension and £25,057 in benefits, which gave total emoluments of £974,253.
But notes in the accounts show that a long-term incentive scheme resulted in a further £726,617 being paid to Betts, which means he earned £1.7m for the year covered by the accounts.
The accounts say that the LTIP scheme was closed in December 2015, but it is a three-year scheme and will continue to be paid until the end of 2018.
Hardly minimum wage, sure, but not quite the same thing as £1.7m "salary".
Edited by TooMany2cvs on Monday 12th February 09:35
This is why stupid people that take headline skimming as gospel invariably look well... stupid 
Due diligence - It won't hurt to look at the Motability finances though, if nothing else, it'll keep them on their toes.
Esther though... she has her own agenda, and I'm not sure truth & facts come into it.
Due diligence - It won't hurt to look at the Motability finances though, if nothing else, it'll keep them on their toes.
Esther though... she has her own agenda, and I'm not sure truth & facts come into it.
The cost of appeals and reviews. It would be interesting to know how much these figures have increased since the changes in benefits and assessments started.
https://www.theguardian.com/politics/2018/feb/12/d...
https://www.theguardian.com/politics/2018/feb/12/d...
You can see the wheels turning now... 'hmmm let's just do what we did with legal aid... and not allow any appeals, that'll fix it'
Bet on seeing the goalposts shifted sometime in the near future.
Between ESA/PiP that's something like 250k people who have had the decision either overturned entirely or revised in the claimant's favour, those are not small numbers and it doesn't speak well of the process itself, colour me sceptical.
I'll slip in the cheeky 164k of people 'blatantly discriminated against' (Judges words) for mental disability too just to ram home the point. (wonder how much that High Court Judgements cost us)
Bet on seeing the goalposts shifted sometime in the near future.
Between ESA/PiP that's something like 250k people who have had the decision either overturned entirely or revised in the claimant's favour, those are not small numbers and it doesn't speak well of the process itself, colour me sceptical.
I'll slip in the cheeky 164k of people 'blatantly discriminated against' (Judges words) for mental disability too just to ram home the point. (wonder how much that High Court Judgements cost us)
Edited by techguyone on Monday 12th February 14:30
techguyone said:
This is why stupid people that take headline skimming as gospel invariably look well... stupid
Due diligence - It won't hurt to look at the Motability finances though, if nothing else, it'll keep them on their toes.
Esther though... she has her own agenda, and I'm not sure truth & facts come into it.
Indeed. I looked at the Motability Operations accounts here: http://fr.zone-secure.net/11650/458609/#page=64Due diligence - It won't hurt to look at the Motability finances though, if nothing else, it'll keep them on their toes.
Esther though... she has her own agenda, and I'm not sure truth & facts come into it.
Net Equity is £2.4bn. About £1.2bn of the assets are held as cash.
voyds9 said:
Perhaps they could become party planners as within 24hrs of the appointment they have managed to get news coverage and the sympathy vote.
One figure I have not seen is how many of those declared fit to work were indeed fit.
All we do get to hear about are the tragedies. (why did he not apply for a hardship payment)
I think about 30% gave up their benefits and rather than even turn up to the assessmentsOne figure I have not seen is how many of those declared fit to work were indeed fit.
All we do get to hear about are the tragedies. (why did he not apply for a hardship payment)
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