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Higgins turns down Network Rail bonus

Network Rail chief executive Sir David Higgins has said he will not accept his bonus this year.

The announcement comes after intense political pressure to waive the bonus, potentially worth up to £340,000.

Transport secretary Justine Greening announced over the weekend that she would vote against the proposed £20m bonus pot for Network Rail chiefs, a move designed to increase pressure without actually having the power to overturn it.

But Labour shadow transport Maria Eagle had criticised the move as futile arguing Ms Greening should go further and block the award, something the government claim would be illlegal.

Mr Higgins decision to turn down the cash echoes that of RBS chief Stephen Hester, who last week waived a £1m award.

The Network Rail boss and former ODA chief executive takes home a £560,000 basic salary.

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