Company directors’ earnings rose by 12.9% last year helped by large bounus payments, doubling last years increases, according to survey results from the Institute of Management.

The two years of increases follow a fall in directors pay of 1.2% in 1998/9.

Average bonuses rose £7,215 from £20,856 to £28,071 during the year 2000, representing an increase of some 34%.

Director-General of the Institute of Management, Mary Chapman said that the rise in bonus payments showed the extent of economic bouyancy and business confidence in the UK