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According to M&S's annual report, Mr Machin got a small rise in his basic salary to £843,000 in the year to March.

MPs' basic salary is set to rise 2.8% to £93,904 from April, after Parliament's expenses watchdog decided to link it to wider proposals for the public sector.

The RFU chairman is the only permanent member of the body's remuneration committee which oversees the pay awarded to all employees on a basic salary of more than £180,000 a year.

Aside from the bonus, Sweeney's basic salary has grown hugely in the five years he has been in the job, from £430,000 to £742,000.

He thinks the answer lies in paying CEOs “a rather modest basic salary, and then everything else is incentive”.