HOW hard do you work? Pretty hard, I imagine. Most people do.

And not for enormous sums of money — the average wage in Britain is less than £26,000, and the average bonus is less than £1,000.

8 Construction company Persimmon has 355 active construction sites across the UK

So it was pretty galling to hear Jeff Fairburn, the chief executive of the ­construction company Persimmon, say he deserves his salary and record-breaking bonus because he “worked very hard” last year.

If you don’t know the facts, put down your cup of tea and take a seat before reading the next sentence.

On top of the £2.12million he collected last year, Mr Fairburn has now been awarded a performance bonus worth a further £110million. That’s right — one hundred and ten million pounds, or three and a half thousand times the average construction worker’s annual wage.

And for what? His company’s performance improved last year, selling nine per cent more homes, and it is expected to announce increased profits in a few weeks.

Root of our problems

8 Boss Jeff Fairburn's good fortunes could be down to government subsidised housing schemes

But whether this was down to the brilliance of Mr Fairburn is doubtful.

About half of Persimmon homes sold last year were aided by the Government’s Help to Buy scheme.

Help to Buy is a popular policy. For people trying to get on to the housing ladder, the Government provides a loan worth up to 20 per cent of the value of the property. So it is good for people who use the scheme to buy their flat or house.

But it is also good for property developers like Persimmon because, thanks to the use of taxpayers’ money, it increases house prices.

8 The company sold over 15,000 homes in 2016 Credit: Getty - Contributor

That makes it bad for people still struggling to get on to the property ladder, and for the taxpayer at large, because Britain’s dysfunctional housing market is at the root of many of our social and economic problems.

For Mr Fairburn, however, it works very nicely indeed. For him, Help to Buy could become help to buy a helicopter, a yacht and a house in the Caribbean. All with your money.

In a country where capitalism is in crisis, there are few better examples of why we have a problem.

A company profits from a broken market. Its profits are boosted by the taxpayer. Its chief executive is rewarded far more generously than he could possibly merit. Its board fails to hold the executive team to account. Its shareholders can do nothing about it. Its workers continue to be poorly paid.

8 Persimmon recorded having over £1000m in the bank in 2017 Credit: Reuters

And the public is ill served — not enough houses are built, making those with assets richer and those without them poorer.

So what does the Government have to say about this? And indeed, about companies that exploit broken markets and rip off customers in sectors such as energy, universities and the railways?

The answer is not very much. This is partly because the politics of Brexit consume so much Government time.

But it’s also because the Conservatives have lost their confidence and sense of direction since last year’s election.

8 Persimmon Plc is a FTSE 100 company Credit: PA:Press Association

It’s not that there is a lack of ideas. Bright backbenchers including Chris Philp and Neil O’Brien are fizzing with ideas. Young talent including Oliver Dowden, Lucy Frazer and Rishi Sunak have been given ministerial jobs.

Nick Boles, who should have been brought into the Cabinet during last week’s reshuffle, is writing a book to inspire the Tories to fix the country’s problems.

It is easy to forget now, but only 18 months ago Theresa May became Prime Minister with a radical agenda.

She had a plan to change the Government’s spending rules, increase infrastructure spending and improve Britain’s investment in research and development.

She promised to make company bosses more accountable, clamp down on excessive corporate pay and ensure workers would be represented on company boards.

8 George Osbourne visited a Persimmon building site in 2016 Credit: Reuters

There would be an industrial strategy to rebalance the country’s economy, making Britain less dependent on financial services and less dominated by London.

There would be a plan to get our great regional cities firing on all cylinders once again. And far more houses would be built.

The Government would intervene in failing markets to stop companies ripping off consumers.

Energy costs would be cut for industry and households alike. And the profits from controversial infrastructure decisions — such as new housing, roads or exploration for oil and gas — would be shared not just with local authorities but with local people themselves.

8 Many experts say buying a house has never been more unattainable Credit: PA:Press Association

It was a significant departure from recent Conservative thinking and it amounted to far more than a simple list of policies. There was a serious analysis of the country’s problems, and a coherent philosophical approach that sought to reform capitalism using the power of government.

Unfortunately, the radicalism of that original agenda has been lost in a series of compromises with ministers more supportive of a traditional, hands-off approach.

Yet the need for radical change is greater than ever.

While people like Mr Fairburn get rich by exploiting broken markets and taxpayer subsidies, average wages are, after inflation, no higher than they were ten years ago.

8 Brexit could threaten house prices Credit: PA:Press Association

The chance of owning your own home, especially for young people, is getting tougher and tougher, thanks in part to the conduct of companies like Persimmon.

People want change and the Government must deliver it. If ministers calculate that Brexit means they can only implement a limited number of reforms, so be it.

Let them choose their priorities — perhaps housing, technical education, and tuition fees — and get on with it. But if that is their decision, the Conservatives need to establish a process to allow talent from across the party to contribute new ideas. Because the party must renew.

It needs a radical programme of social and economic reform for after Brexit and to offer the country at the next election. Because at that election, in 2022, it will not be enough to have safely delivered a negotiated Brexit, even if that will be a huge achievement in itself.

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People will still expect changes that improve their quality of life.

If the Conservatives fail to come up with these changes, they risk the election of Jeremy Corbyn — and economic Armageddon.