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Building firm for Free School gets bonus?

Building firm for Free School gets bonus?

The boss of a secretive property company set up by the Department for Education to secure free-school sites received a five-figure bonus last year, even though the organisation missed one of its key targets.

The Department for Education declined to tell Tes why Lara Newman, the chief executive of LocatED, received the bonus – a decision which the chair of the House of Commons Public Accounts Committee has branded “unacceptable”.  

LocatED calls itself “Britain’s biggest property start-up”, and was set up to operate at arm’s length from the DfE with a remit to find and buy hundreds of free-school sites.

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Its accounts up to 31 March 2018 – published last month – reveal that Ms Newman received a salary of £185,000-£190,000 in 2017-18, plus bonus payments of £20,000-£35,000 and £11,000 in pension benefits, giving her a total remuneration of £225,000-£230,000.

 

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