THE boss of housebuilder Persimmon is primed to pocket a near £75m pay-out – but shareholders are lining up in opposition to the cash bonus.

The group’s annual report for 2017 today (Monday, March 19) revealed chief executive Jeff Fairburn stands to pick up £47.1m as part of a generous pay award, representing a huge increase on 2016’s £2.1m.

Mr Fairburn’s pay packet, which has been put under intense scrutiny by investors and outraged politicians, consists of a £675,270 base salary, a £1.3m annual bonus and a £44.9m boost from a long-term incentive plan.

To cap off a bumper year for the chief executive, a second tranche of shares worth about £25m will become due in the summer.

The situation has been exacerbated by Persimmon’s long-term incentive plan, which was first announced in the aftermath of the economic downturn in 2012.

The scheme was designed to reward more than 130 executives with hand-outs linked to the share price of the company, which has offices in Bowburn, near Durham City.

However, the plan has received much criticism since Persimmon, headquartered in York, has benefited from the Government’s Help to Buy scheme, which provides support to get more people on the property ladder.

It has also drawn the resignations of chairman Nicholas Wrigley and remuneration committee chairman Jonathan Davie.

The company’s board will face down shareholders next month at an annual general meeting, with at least one investor, the Church of England, promising to vote against the company’s remuneration report.

Earlier this year, Mr Fairburn said he will hand some of his pay-out to charity, revealing plans to set up a private charitable trust to support a number of good causes.