Lord Melchett
If the Government are tired of the to-be- pitied. but immovable. Lord Melchett and need a better man they shouldn't be afraid of giving him the push just over the little matter of compensation for the loss of his £25.000 per annum salary for the remaining four years of his contract.
In computing the amount due to him it is well precedented that the sum due is net of the personal taxes die would have had to pay and additionally Lord Melchett is under obligation. like anyone who has had his con- tract terminated, to attempt to mitigate damages by looking for another job during the next four years. He may not find such a cosy and princely-paid niche in merchant banking or industry but he is still only forty- six, and any earnings he makes during the years ahead of his contract may be deducted from the pre-tax sum that may be thought his due. I see that Richard Marsh, to whom Lord Melchett owes his job. is leaVing politics and looks like joining the aristocracy of the nationalised industries. Plus ca change.
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