£693,000 a year is what Sir Fred Goodwin is getting from his RBS pension.* That works out at a shade over £13,300 each week.

By comparison, Blackpool Council has just advertised for an administrator to work in their social services department (a pretty important role to my mind given how often it turns out administration has gone wrong when a tragic case comes to light). It will be paying around the same with only two small differences. What Sir Fred gets each week, the administrator gets a year – and Sir Fred doesn’t have to do anything for his money.

* By the way, am I the only one to suspect that, given he’s had other jobs in his life, quite possibly his full pension arrangements come to rather more than even that figure?