Seven Berkeley chiefs pocket a £28m windfall between them sparking a mini shareholders’ revolt
Berkeley chief exec Rob Perrins pocketed £7.8m, including £7.1m in bonuses
Housebuilder Berkeley has warned stamp duty is suffocating the London housing market as it saw a revolt over a £28million payout to its bosses.
Official figures have shown prices in the capital are falling at the fastest pace since the financial crisis, which Berkeley blamed on stamp duty rises introduced in 2014 by then-chancellor George Osborne.
It said: ‘London remains constrained by high transaction costs, restrictive income multiple limits on mortgage borrowing and prevailing economic uncertainty, accentuated by Brexit.’
Its warning came as nearly 8 per cent of shareholder votes were cast against a pay report at its annual general meeting.
Berkeley’s seven executives were handed £28.3million overall for the year to April 30.
The group has warned of a profits dip next year of around 30 per cent after a 15 per cent surge in the year to April.